Socialism: the state controls the means of production.
Communism: the state owns everything.
Nanny/welfare state: could be free market capitalist, fascist, socialist, communist.
Venezuela has been pursuing socialism since Chavez; the state nationalized not only Venezuelan oil companies but *foreign* oil companies (and people act surprised when foreign investment dried up). The state has put price controls on things like food and toilet paper… prices *below* the cost of production (and people act surprised when people stopped making and selling those things). The state decided to create a massive welfare state to raise the standard of living of the truly, shockingly poor… by nationalizing everything, confiscating wealth and making enemies of businesspeople and people act surprised that the wealthy and skilled of the Venezuela have been leaving the country in droves).