http://www.bbc.com/news/magazine-32349473
So, in keeping with the current theme of class (and bouncing off of Arjun's April 12th post), I found this article from the BBC on the product shortages in Venezuela. Currently, it is very difficult to buy products there and everything is government regulated. People wait in long lines in order to buy anything and sometimes the wait isn't even worth it in the end. I just think it is interesting because it reminds me of Soviet markets, except worse.
Would love to hear everyone's thoughts.
1 comment:
The Venezuelan government has stuck to formula by blaming its economic woes on US "economic terrorism". Venezuela has taken somewhat drastic anti-market leftist reforms that have likely led to a loss of confidence in doing business with Venezuela, leading to a drop in exports, such as nationalizing major industries forcibly. This, coupled with poor resource distribution, has helped lead to this conundrum for the government.
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