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No it isn't @dezconocido. Please see both videos.

Venezuela is a perfect counterexample. I live it daily.

Counterexample of what, @dezconocido? You think you live in Socialism because it is labeled “Socialism”? That's precisely why professor Wolff explains what socialism is NOT.

Please watch the videos first.

Ok, I saw the videos for the second time because I was sure I was skipping something from the esteemed teacher, but it was not like that. Now, what happens in Venezuela is the counter example of what socialism is defined by Professor Richard D. Wolff. At this point I want to add that there are two ways of seeing socialism, one theoretical and the other practical. In the theoretical it looks beautiful and in practice it is a disaster, when socialism fails in some government quickly defenders of socialism say that there is no socialism "has a label" but it is not ...
Before the Chavez government took over the power of the community if they called their socialist policies and ideas, when I executed them the defenders of socialism quietly moved away from the issue since "it" is not socialism.
I inquire a little to the professor and he talks about the situation in Venezuela (of which he is not an expert) alluding to two fundamental things so that socialism works, 1) a charismatic leader and 2) a lot of money to maintain it. Venezuela had both until Chavez died and the price of a barrel of oil (previously high) collapsed, and socialism unable to keep looking for other ways to stay in power, but it is the same socialism as before but with another approach. For sure here the link http://www.rdwolff.com/briankendall/could_you_speak_about_the_situation_in_venezuela
The truth is that socialism in theory seems a great idea, but I need to add warnings that can be converted into practice, I can name some; populism, communism and among others.
And socialism is already in America (I do not know if it makes reference to the United States), and it is easy to see it if you look a bit at South America, the Latin American socialisms and you can see what they have finished and how they keep happening again and again.
Everything you see that is not socialism is because it once was.
I believe that a socialist-capitalist government can work.

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