An Engineer's Problem?

Recently, while talking with a friend from the west coast, I heard an interesting story. He related the situation of a person at the high tech company at which he works. My friend told of the ongoing campaign of a fellow engineer to help his extended family. This engineer had immigrated from Venezuela. His family had been splintered due to the economic unrest in the country. Portions of the family were in Peru and other countries in South America, others in Columbia, Chile and virtually any country they could immigrate to. But his aging mother refused to leave the family property which as been in the family hundreds of years. A brother and sister are staying in the country to care for her. Over three million people had left the Venezuela and the exodus continued. Many were professionals, doctors, lawyers, engineers and such. Life had been good for the middle class in Venezuela until the election of Hugo Chavez. Chavez rode into power on the backs of the working class. His mantra was, “Power to the People” and sought the elimination of corruption of the ruling class. After Chavez took office things began to change. Lip service was given to the promises made to his political base. He seized power and began nationalizing private businesses and industries. Chavez created an oil based economy.  Venezuela has the largest oil reserves in the world. The strong and booming economy began to decline.Due to a drop in oil prices, in a matter of a few years Venezuela was transformed from a modern prosperous South American state into one of poverty and corruption. At this point my friend's workmate escaped.  Inflation of the currency skyrocket but the government raised the minimum wage constantly. Actually the minimum wage became so high that businesses could not make a profit paying required wages. So they went out of business and no longer produced some of the necessities of life. Conditions in Venezuela continued to worsen. Food was scarce, so much so that zoo animals are killed for food. Life saving medicines were no longer available to the people. The country refused humanitarian  aid from outside. 

What did the engineer do?  He found a way to help his estranged family in Venezuela. Periodically, he ventures in to Mexico to buy medications needed by family members in Venezuela. Medications are less expensive in Mexico than in the United States but still present a financial burden for him.  He has found an American company that does legitimate business with his former homeland. That company is willing to smuggle the medicines his aging mother needs to survive in the South  American country.  

How long can this continue? Is there any hope for Venezuela?