Like almost all socialist experiments, Chavez's Bolivarian Revolution was pointless and harmful. It has left Venezuela with a basket-case economy. Venezuela's currency, the bolivar, suffers from 20% inflation and has been devalued five times in a decade.Chavez increased economic equality by spreading the poverty around.ike almost all socialist experiments, Chavez's Bolivarian Revolution was pointless and harmful. It has left Venezuela with a basket-case economy. Venezuela's currency, the bolivar, suffers from 20% inflation and has been devalued five times in a decade.