I don't think you and the parent contradict each other. Venezuela has natural resources, favorable geography, a reasonably well-educated population, and (until recently) reasonably modern infrastructure. Many countries have fared far better with far less. The problem is management.
> No one pretends that democracy is perfect or all-wise. Indeed it has been said that democracy is the worst form of Government except for all those other forms that have been tried from time to time
Churchill quoting one of his predecessors in his autobiography "Churchill by Himself".