Wednesday, November 21, 2007

Price Controls don't have to be "Soviet" to really screw things up: Venezuela Edition

Seems like it's easier to find a Hummer than a drumstick in Hugolandia:

The lines for basic foods at subsidized prices are paradoxical for an oil-rich nation that in many ways is a land of plenty. Shopping malls are bustling, new car sales are booming and privately owned supermarkets are stocked with American potato chips, French wines and Swiss Gruyere cheese.

Yet other foods covered by price controls — eggs, chicken — periodically are hard to find in supermarkets. Fresh milk has become a luxury, and even baby formula is scarcer nowadays.

To which I can only add: DUH!