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Hawkonomics

Relating Economic Theory and the Real World

Saturday, February 15, 2014

More Price Control Problems in Venezuela

The Wall Street Journal reports that Venezuela shoppers are having a difficult time purchasing food staples and the reason is poor Venezuelan economic policy.

Not only food, but now the government of Venezuela has put price ceilings on new and used cars as reported by The Wall Street Journal.

I have written about this before with additional examples showing that price ceilings can result in significant shortages.

Posted by @StaceyLBrook at 7:47 AM
Labels: Price Ceilings

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