Deny the marketplace free prices and shortages and general economic dysfunction are the inevitable result. Deny prices completely and sooner or later one will have complete collapse.
This can be offset for a time with terror, as we saw and see in the Soviet Union, North Korea, and in Cuba. But the end is the same. The questions now in Venezuela are how far is Maduro willing to go and how far CAN he go?
(From The Washington Post)
Its stores are empty, its people are starving, and its government is to blame. It has tried to repeal the law of supply and demand, and, in the process, eliminated any incentive for businesses to actually sell things. The result is that the country with the largest oil reserves in the world now has to resort to forced labor just to try to feed itself.
It gives new meaning to the revolution devouring its own…
…Venezuela’s government might be reaching the point where it can’t coerce people economically, but only physically. After all, it barely has enough money to even be able to print money anymore. So it can’t buy people off anymore. It has to bully them instead. Indeed, the army has started forcing butchers to sell food at a 90 percent loss, and the government has said it can force anyone to, um, take a break from their job and work for at least two months growing food instead. Amnesty Internationalhas said this is tantamount to “forced labor,” which is just a polite way of describing what’s very close to modern-day slavery.