Capitalism is the worst economic system, except for all the others. Venezuelas supermarkets dont have enough food. Or toilet paper. Or, well, anything really. And thats why the government is about to start #fingerprinting people to ration goods. But why cant an oil-rich country even keep its stores stocked? Well, its the price controls, stupid. They always and everywhere create shortages. Here at the link is why they have done so in #Venezuela. Its a reminder that you cant suspend the laws of #economics. You cant print money to pay for things without creating inflation. And you cant stop that inflation just by saying you want it to. But not only will this magical thinking fail, it will also create new and even worse problems like #shortages. Reading this article is a good reminder of the following, often misquoted: The inherent vice of Capitalism is the unequal sharing of blessings. The inherent virtue of Socialism is the equal sharing of miseries. ~ Winston Churchill; in the House of Commons, October 22, 1945 That given, this might also apply: Capitalism is the worst economic system except for all the others.
Posted on: Sun, 31 Aug 2014 10:28:34 +0000