Friday, March 18, 2016

Venezuela is Shutting Down for a Whole Week

This is what happens when you mix socialism, runaway inflation and price controls.

On Wednesday, according to Bloomberg, President Nicolás Maduro announced all workers will need to take an extended five-day Easter holiday to conserve power.  The country had already been rationing electricity and residents, at times, have already been left in the dark for days at a time.

It's always blamed on something other than te economic restrictions. In the case of Venezuela, it is a drought. But if prices were free to fluctuate, there would be no shortage. This is economics 101. And if it wasn's so difficult to start up a business in Venezuela workarounds would develop. But isntead the crisis gets worse and worse, with even more oppression.

 -RW

1 comment:

  1. Nothing will change until the rulers feel the pain as well, which so far they apparently haven't.

    ReplyDelete