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.]

Comments

  1. Are you dead?

  2. Ben says:

    Whatever happened to the frequently posting Jacob we know and love?

  3. Jacob Grier says:

    Hey there. Still alive, just distracted by things in the real world for a while.

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