I don't know much about Venezuela but it is perhaps similar to what happened to Cuba during its economic collapse following the fall of Soviet Union. This documentary The Power of Community: How Cuba Survived Peak Oil is very interesting and it shows how Cuba promoted sustainable farming (urban mostly, and organic too!) & public transport to reduce dependence on oil.
Perhaps Venezuela needs something of similar nature and hope this story is a part of that: Venezuela Farmers Fight Monsanto Seed 'Imperialism' - and Win!:
“The economic crisis hasn’t effected us very much,” said Abigail Garcia, one of the founders of the Socialist Seedbed of Monte Carmelo: “We grow our own food; we don’t need to wait in line for mayonnaise. Most of all this crisis has provoked a change of consciousness, and that is the most important of all changes.”
So, what's a good economic model? Hone that exactly the opposite of the existing one. For example:
Ending Corporate Welfare: All the mainstream economics and finance pundits hate "subsidies" and "debt waivers" especially when it comes to the poor people or farmers. But they want do exactly that with the 11 Lakh Crores borrowed by Indian corporates mostly by public sector banks. They had already written off 1.12 Lakh of debt last year. Here is what Sitaram Yechury has to say on this matter
Ending Corporate Welfare (Contd.): Yes, let us end subsidies for good. P. Sainath talks about Corporate karza maafi which is the loot of public money
Make in India: Stop importing food from developed nations which is heavily subsidized by their governments which gives them unfair competitive advantage. Not just that, their "industrial farming" accounts for one-third of greenhouse emissions which impacts our agriculture. A double whammy. In fact, Russian agriculture is now prospering due to EU sanctions while EU farmers are venting their anger on their governments. Modi wants poor African countries to produce pulses for us. No piss fuck given about food security of the poor people in that country not to his 'Make in India' campaign.
Small scale sustainable farming: This is the only sustainable way to farm without accounting for two-thirds of greenhouse gases. Tougher laws on groundwater exploitation, ending subsidies to big agribusinesses, promoting rain-water harvesting, letting farmers grow their own seeds, natural fertilizers, pesticides etc.
Massive spending on public health, education, transport and renewable energy: Using money being on corporate welfare. This improves number of public sector jobs and less conflicts between castes for reservations. Our demography will also get old, so better start training tons of students in medicine and nursing.
Rural Economy: Focus on rural India so that the urban migration stops and even reverses. 75% of urban sewage goes untreated, our cities are not livable in the first place. less Land reforms to help landless, tenant and small farmers.
Worker Cooperatives: R.D. Wolff talks about it a lot these days. We can also similarly have farmer cooperatives.
There is a reason they don't do any of those and do exactly the opposite. Because we lack political democracy, the rich buy politicians using the only special thing they have (wealth) to compensate for "one person - one vote" thing. As Ambedkar said, we won't have political democracy until we have social & economic democracy. And we won't have social & economic democracy until we have political democracy in the era of neo-liberalism, religious fanaticism and casteism. We on paper have political democracy and we need to use it to elect parties/individuals that will work for social & economic justice, doesn't matter whether they call themselves "Left" or "Right".