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Source link: http://archive.mises.org/13015/the-fruits-of-nationalization/

The Fruits of Nationalization

June 19, 2010 by

80,000 tons of rotting food sitting in Venezuelan state warehouses.


newson June 19, 2010 at 8:01 pm

¡viva la democracia!

Rob June 19, 2010 at 9:25 pm
Bruce Koerber June 19, 2010 at 9:31 pm

Ego-driven intervention to say the least!

Jonathan Finegold Catalán June 19, 2010 at 10:24 pm

Venezuela is poised for recovery, am I right?

David C June 19, 2010 at 10:46 pm

Hey, how about offering him a free scholarship to LVMI, sounds like he could use it! :)

Abhilash Nambiar June 20, 2010 at 8:08 am

Huerta de Soto could teach Hugo Chavez. They share the same language.

Horst Muhlmann June 20, 2010 at 7:51 pm

What are you trying to do, get Dr. de Soto killed?

Abhilash Nambiar June 20, 2010 at 11:30 pm

Mamma mia! I was just trying to be helpful no? After all Hugo Chavez is just stupid, not evil.

Elevic Pernis June 20, 2010 at 2:54 am

Not surprising.

Stitches April 13, 2011 at 1:17 am

Stands back from the keyboard in amazement! Thknsa!

RogC June 20, 2010 at 5:44 pm

Venezuela and Zimbabwe, the modern case studies for centrally planned economies.

roy June 21, 2010 at 8:27 am

eerily prescient


Mitchell Powell June 22, 2010 at 2:16 pm

I lived in Venezuela 15 years ago when the currency was worth over 8 times (the exact figure is hard to get do to restrictions on publication of black-market rates) what it’s worth now. And just 8 years before I got there it was worth a thousand to two thousand times what it’s worth now (with adjustment for the 1,000-fold revaluation of the new “strong bolivar”). Venezuela’s problem is simple: government intervention in the form of fraudulent red tape (thank goodness that bribes let some legitimate business continue), price controls, and devaluation of the currency. Perhaps they’re just running about a quarter-century ahead of the US.

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