21st Century Socialism

In another push toward his "21st Century Socialism," Hugo Chavez has ordered the nationalization of Venezuela's cement industry. Chavez decided to do this because of the serious shortage of cement products in Venezuela that is due to the high prices that are placed on raw materials by international companies. Because of the high prices on cement and other construction materials, Venezuela has experienced a domestic housing shortage because many people cannot afford to build a house. The move to nationalize industries such as cement, electricity, telecommunications, and most importantly the oil and gas industry by Chavez's government has been very controversial especially in the eyes of foreign investors. Chavez's critics argue that such rapid pushes toward government control will scare investors and ultimately harm the Venezuelan economy. Although some question Chavez's motives especially in regard to Venezuela's oil industry, it seems that at least with the cement production issue Chavez is taking measures to alleviate some of the financial pressures that many people in Venezuela are facing.

http://news.yahoo.com/s/ap/20080404/ap_on_re_la_am_ca/venezuela_cement_nationalization;_ylt=ApJLiseTEnROq4Ytarxs64O3IxIF