Recent years have seen increasing opposition to U.S. political and economic influence in Latin America. Venezuela is a key player in the South American economy. This project researches the country’s history from the 1950s to the present and the role of the U.S. in its formation. Through political economy, this study asks if recent political changes are due to the effects of U.S. policies in Venezuela. The research examines the relationship between the two nations and the development models proposed by the Chávez government. The paper considers alternative models of economic development, independent from U.S. political hegemony.