Price controls to help the poor

Last sentence of article:

“President Hugo Chavez decreed price controls on coffee and other basic food staples in 2003 to counter inflation and protect the poor.”

First sentence of article:

“CARACAS, Venezuela (AP) – The government on Monday said it was raising the regulated price of ground coffee in stores by 60 percent in a bid to end a dispute with producers that has caused a crisis around Venezuela’s beloved drink.”

In between, a case study of price controls making a mess of the market and hurting the very people they’re meant to protect.

[Via Coffee and Caffeine.]


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