The indigenous tribes put up a strong struggle against the colonial invaders, who left a swathe of death and destruction behind them as they pushed onward in search of the chimerical El Dorado. In the end, though, their resistance was subdued when many tribal communities fell victim to European diseases such as smallpox, which wiped out two-thirds of the population in the Caracas Valley alone.

However, the lack of lootable wealth in Venezuela soon led to colonial neglect, which in turn prompted dissatisfaction and resentment among the American-born Spanish elites. The Spanish rulers were eventually thrown out by the young Simón Bolívar, known locally as 'El Libertador'. He seized Venezuela from Spain in 1821. Bolívar had already brought independence to Colombia, and went on to liberate Ecuador, Peru and Bolivia. His dream of a united state of Gran Colombia, which would unify Colombia, Venezuela and Ecuador, did not survive his death in 1830, when Venezuela declared full independence under a new constitution.

The post-independence period was marked by a succession of military dictators, political coups and economic instability, until the discovery of huge oil reserves in the Maracaibo basin in the 1910s brought some degree of prosperity to the country. By the late 1920s Venezuela had become the world's largest oil exporter, but little of this newfound wealth found its way to the common people. With poverty rife and educational and health facilities in a deplorable state, a series of popular uprisings took place, culminating in the country's first democratic elections in 1947.

Despite recent political stability, Venezuela's political climate continued to be marred by corruption scandals and the threat of a military coup. The country's economy, which was hit hard by the 1988 drop in world oil prices, remained shaky. Then-president Caldera's unconstitutional crackdown on economic speculation and civic freedoms in 1994 incensed civil libertarians, but it took until early 1996 for popular opinion to swing against him.

In December 1998 Venezuelans signaled their impatience with the government's impotence, electing an army colonel, Hugo Chávez, to the presidency with the largest vote margin in 40 years. Just six years earlier, Chávez had attempted a coup against the government and had spent two years in jail.

History from Lonely Planet.

The Bolivarian Revolution

Chávez was elected in 1998 after building his movement over the course of the decade. For many, his election signaled a spreading backlash against the failure of the oligarchy system and neoliberalism to deliver development. Chávez called for a peaceful and democratic "Bolivarian Revolution," appealing to Simon Bolívar's vision of continental sovereignty and cooperation. Many barrio residents and campesinos were already busy organizing in their communities, and the revolution quickly began to take shape. Chávez's government collected input from community groups all over the country in order to create a new constitution, which was ratified by a popular vote of around 70% and went into effect in 2000. The new constitution created a Constituent Assembly and land reform and environmental protection measures, gave new political, cultural and economic rights to immigrants, women and indigenous people and more. Chávez easily won re-election under the new constitution, and members of his coalition were elected to local offices nationwide.

But the government's progress was slowed by US intervention and the Venezuelan opposition, led by traditional elites now largely shut out of the circles power. The US government has been frustrated by higher oil royalties, Chávez's opposition to US-led trade plans and his public criticism of US foreign policy, and has responded by financing the Venezuelan opposition through the National Endowment for Democracy and related funds. In 2002, the opposition staged a coups, but after the coup plotters took over and dissolved the Assembly and the Supreme Court, thousands of Venezuelans took to the streets of downtown Caracas and swept Chávez back into office within 48 hours.

In 2003, in another attempt to oust Chavez from power, the opposition-affiliated executives of the state oil company, PdVSA, locked out employees and sabotaged equipment, temporarily shutting down the industry. The lockout did enormous damage to the economy, but did not succeed in its goal of bringing the government to its knees: within two months, workers successfully took over the factories and resumed production, guarded by teams of local volunteers.

Chávez introduced oil company reform, leading to internal restructuring and new budgeting that directed profits into neighborhood social programs called "missions." These include preventive medical and dental care, vision treatment, literacy, multiple levels of education, child care, job training, technical and agricultural assistance, microloans, aid for cooperatives and women's businesses, subsidized food staples, support for indigenous communities and more.

In 2004, the US-funded opposition conducted a signature drive in order to hold a referendum on Chávez's presidency under a provision of the new constitution. Chávez submitted to the referendum, which he won with a landslide majority of record turnout and which was certified by many teams of international observers, including the US' own Carter Center.

Chávez is making good on his plan to forge multilateral economic relationships and build international solidarity. These relationships include media project TeleSur, energy projects PetroSur and PetroCaribe, and a number of bilateral partnerships for trading goods and services.

Background on the Bolivarian revolution by Bonnie Johnson.

Want to see the Venezuelan process for yourself? Travel with Global Exchange Reality tours.