You can quibble over terms and dictionary definitions, but the roots of socialism - and communism for that matter - are simple enough. I made it easy by putting them in the next sentence.

Is Chavez a socialist? He has nationalised key industries and redistributed wealth for public benefit, so I'd say yes. He may, or may not be, a dictator. Being a dictator is orthogonal to the socialism/capitalism axis and doesn't deal with that particular question in any direct or useful way.

As for the sin of being economist - the only sin in being an economist is assuming that it's the only useful way to understand how the world works.