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 Nicol├ís 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.


1 comment:

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