The rising of oil in the first years of the XX century, brings to Venezuela effects that embrace all the national events. Its modernizing and terrible effects are gathered in this study, emphasizing on the social and individual dimension. On the one hand, it describes the changes in the social structure of the country in relation to other processes which are linked to the central axe: economy, politics and the role of the government. On the other hand, the effects are considered in an individual dimension describing Venezuelan health and some indicators of nutrition and quality of life. There is also a consideration of the contribution of psychology in the definition and understanding in the study of ¨being Venezuelan¨, from a historical perspective.