From Jesus Barrios, Venezuelan shopper in Maracaibo, the capital of Zuija in Venezuela:
Before there was nothing; now there’s everything.
The Wall Street Journal, “Amid Shortages, Venezuela Frees Prices,” 10/15-16/16
The Venezuelan government is selectively lifting price controls, and miracle of miracles, goods can be found in shops and stores whose shelves had previously been empty. The prices set under controls were so low that the new prices are multiples of the old ones, but isn’t it better to be able to buy something at a high price than buy nothing at a low one? If the Venezuelan government is smart enough to eliminate the controls for good (it may not happen) prices will come down as business people compete to supply goods and services. Sometimes reality gets so bad that even Socialists have to abandon dogma.
