This half-hour-long report from Venezuela by BBC reporter Ed Butler is a telling expose of some of the terrible consequences of government interference in markets. Naturally, the government in Caracas blames Venezuelans’ significant economic woes on “corrupt capitalists.” (Sound familiar?) In the future – when you encounter college students in Palo Alto, Providence, and the Cambridges wearing Hugo Chavez t-shirts along with their Che t-shirts – keep this report in mind. (HT Jeff Kvistad)
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