The 1960s, 1970s and late 1980s were significant for Venezuela. However, this period of intense transition saw particularly strong growth, largely driven by unsustainable and impoverishing economic growth. On the other hand, this type of growth did not enrich the vast majority of Venezuelans. Thus, on the one hand, there was in fact the emergence of a virtuous circle and institutional plurality, which naturally lasted in the short term. Thus, the Chavista regime that later took hold in Venezuela largely promoted the significant emergence of vicious circles and a set of extractive institutions, strongly characterised by the very existence of economic destruction, promoted on the one hand by democratic stagnation. In this particular approach, I show some evidence that points to divergences regarding the plausible existence of abundant natural resources. Most countries that are rich in natural resources, for example, have similar characteristics, but are influenced, first by vicious circles, and secondly by the institutional extractivism existing in these countries. Examples such as Angola, Equatorial Guinea, Venezuela, Syria, Democratic Congo, and Congo Brazzaville reinforce the theory that abundance is primarily a promoter of political inconsistency, vicious cycles, and, above all, a large part of the multidimensional poverty that is significantly rooted in these countries in particular. Thus, during the vicious circle in Venezuela, on the one hand, the governmental incapacity promoted by the Chavista government consistently and continuously promoted the breakdown of social protection levels and, on the other hand, the significant increase of a significantly dual society, which is strongly persistent with non-inclusive and stagnant democracies. Democratic stagnation, however, was not economically and politically sustainable, and the marked differences consistently and plausibly led to the emergence of severe deprivation of freedoms, namely the deprivation of democratic freedoms and the deprivation of freedoms of access to basic needs. The lack of these freedoms led the country to institutional collapse and significant state collapse.