Norway is made up of 6 million culturally homogenous people sitting on a whale size oil deposit; it is wealthy enough to afford many socialist programs, but outside of the publically owned oil industry, Norway has a market economy. 

In Venezuela, Chávez forcefully nationalised more than 1,150 companies, including the oil industry, public utilities, and many banks, actions that pretty much define socialism. Productivity duly collapsed.  The average resident has lost 19 pounds in the past year because they don't have enough to eat.  

That very much the same story as socialism produced in Russia, China, Viet Nam, Cambodia and elsewhere.

The problem is socialism.