Not even Karl Marx could have imagined this.
Venezuelan President Nicolas Maduro has named Alfredo Serrano as the country's top economic adviser.
WSJ reports that with his long hair and beard Serrano has been called the "Jesus Christ of economics."
But don't for a minute think he will pull off a Ludwig Erhard-type German Economic Miracle in his Latin American country.
The country is in full crash mode thanks to price controls, hyperinflation and heavy duty regulation. Store shelves, including the shelves of grocery stores, are empty.
Horrifically, Junior Jesus has imposed even more controls since Maduro has put him in charge.
“All the attempts to reform, to coordinate with the private sector, have been blocked by him,” a senior ruling-party lawmaker told WSJ.
“This is a very intelligent, very qualified man who’s building new concepts for a new economy of the 21st century,” Maduro, according to WSJ, said at a book fair last year, as he admired Serrano’s 2014 tome “The Economic Thought of Hugo Chávez.”
Among his more unorthodox ideas are that inflation is caused by class struggle and that government bureaucracy should be replaced by revolutionary communes that would handle everything from health care to food production.
“The communes must be at the center of gravity of the new state,” Mr. Serrano said in a July speech in Caracas.
Mr. Maduro has followed the advice by ordering community councils and soldiers to distribute basic food directly to families, according to two ruling-party lawmakers.
Meantime, the crisis deepens. Inflation is expected to surpass 700% by year’s end...-RW