Saturday, November 30, 2013

Inflation, Shortages, And Social Democracy In Venezuela

The economic turmoil in Venezuela has received increasing international media attention over the past few months. In September, the toilet paper shortage (which followed food shortages and electricity blackouts) resulted in the “temporary occupation” of the Paper Manufacturing Company, as armed troops were sent to ensure the “fair distribution” of available stocks. Similar action occurred a few days ago against electronics stores: President Nicolás Maduro accused electronics vendors of price-gouging, and jailed them with the warning that “this is just the start of what I’m going to do to protect the Venezuelan people.”

http://www.zerohedge.com/news/2013-11-29/guest-post-inflation-shortages-and-social-democracy-venezuela

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