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him centralize the Venezuelan state and develop its authority. He remained the most powerful man in Venezuela until his death in 1935, although at times he ceded the presidency to others. The gomecista dictatorship (1935–1945) system largely continued under Eleazar López Contreras, but from 1941, under Isaías Medina Angarita, was relaxed. Angarita granted a range of reforms, including the legalization of all political parties. After World War II, immigration from Southern Europe (mainly from Spain, Italy, Portugal, and France) and poorer Latin American countries markedly diversified Venezuelan society. Rómulo Betancourt (president 1945–1948 / 1959–1964), one of the major democracy activists of Venezuela. In 1945, a civilian-military coup overthrew Medina Angarita and ushered in a three-year period of democratic rule (1945–1948) under the mass membership party Democratic Action, initially under Rómulo Betancourt, until Rómulo Gallegos won the 1947 Venezuelan presidential election (generally believed to be the first free and fair elections in Venezuela). Gallegos governed until overthrown by a military junta led by the triumvirate Luis Felipe Llovera Páez, Marcos Pérez Jiménez, and Gallegos' Defense Minister, Carlos Delgado Chalbaud, in the 1948 Venezuelan coup d'état. The most powerful man in the military junta (1948–1958) was Pérez Jiménez (though Chalbaud was its titular president) and was suspected of being behind the death in office of Chalbaud, who died in a bungled kidnapping When the junta unexpectedly lost the election it held in 1952, it ignored the results and Pérez Jiménez was installed as president, where he remained until 1958. The expansion of the Venezuelan economy in this period was based on the indebtedness of the Venezuelan nation and that was one of the causes of the economic crisis in Venezuela in the 1960s,[59] in which important projects such as the Urban Center El Recreo de Marcel Brauer on Avenida Casanova in Sabana Grande district were paralyzed.[60] During the years of Pérez Jiménez's administration, the State intervened in areas of the economy that were traditionally carried out by private companies. The Pérez Jiménez government was characterized by its state capitalism and not by liberal capitalism. It was an antecedent of the populist and paternalistic economic regime of the later democratic regimes.[61] The national private entrepreneurship increasingly had less space to grow and prosper. The State was the great capitalist in the Venezuela of Pérez Jiménez and was the largest national shareholder of major hotel chains such as Sheraton.[62] In the government of Pérez Jiménez, Venezuela's debt grew more than 25 times and went from 175 million to more than 4,500 million bolivares in just 5 years (approximately 15 billion dollars in 2018). The malaise over the debts of Venezuela reached the barracks and the national business. Pérez Jiménez responded that: "there is no debt, but commitments". The Finance Minister failed to convince Pérez Jiménez
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