No, this is what a power-hungry dictator does. But socialism/communism creates an environment where such leaders can easily take power and thrive.
That's why democracy can be so powerful - it often successfully removes the power vacuum that creates dictatorships.
Democracy and dictatorship are systems of government. Capitalism and socialism/communism are economic systems, intertwined with the former political systems.
The formers are normally decentralized and driven by markets, the latters are centralized and driven by a few politicians.
Venezuela has failed because the government consolidated its power over economics which is fundamental to the application of socio-communist policies, which created the ability to monopolize state control in almost every aspect of its citizens life.
The exception here are countries like Singapore. Singapore and other examples illustrate that at the end of the day, the most efficient economic system is the best to have. Centralized control of small countries may work, but applied to larger populations, land mass, and economy, actual humanitarian crises from real dictators (Stalin, Castro, etc) come about.