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Scientific Essay from the year 2014 in the subject Politics - Region: Middle and South America, , language: English, abstract: The contemporary Venezuelan political system is observed through Luhmann’s social theory as analytical framework, following the systemic distinction between semantics and social structure. Semantically, the discourse of twenty-first century socialism stands out, promising not only better opportunities for the poor but also a new world order. Semantics of this kind works as a natural self-description identifying people with their leader. Tautological self-descriptions are typical of authoritarian and totalitarian regimes. From a socio-structural standpoint the Venezuelan political system is characterised by the inflation of power and money, causing the state to grow out of control as well as public expenditure. As oil prices increased the Bolivarian revolution could afford ambitious national and continental projects, but as the energy market became flooded with cheaper oil, the scarcity of dollars is choking not only Venezuela’s economy but the government’s legitimacy as well.