Wednesday, August 10, 2016

Venezuela's President Puts the Economy in the Hands of the 'Jesus Christ of Economics'

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 Ch├ívez.”

Notes WSJ:
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...


  1. Joseph Salerno spoke of communes in his Mises U 2016 lecture "Calculation and Socialism:


  2. It's turtles all the way down.

  3. Good grief. Those poor Venezuelan's. No modern people should have to endure what the 20th century already went through.

  4. Replies
    1. US has too many rifles in hands of We The People. Not to mention that majority of US army is boys from the families not known for their socialist values. An attempt to establish full-blown socialism by force will be terminated very quickly, with extreme prejudice. US leftists understand that and got adept at spreading bullshit instead.

    2. Will see what happens after the dollar collapses, but I doubt they could enact communism here...yet.

  5. When the dollar collapses, the power will go off. With no power to run the computers, no bills will be paid, no food will make it in off the fields, no one will have a means to get to work, even if they still have a job at that point. Prove me wrong, if you can.