Home > International Marketing, International Trade, Microeconomics, Tax Policy > The Effects of Government Price Controls

The Effects of Government Price Controls

You could have seen it coming, with just a freshman education in economics:

In the serene private clubs of Caracas, there is no milk, and the hiss of the cappuccino machine has fallen silent. In the slums, the lights go out every few days, or the water stops running. In the grocery stores, both state-run shops and expensive delicatessens, customers barter information: I saw soap here, that store has rice today. The oil engineers have emigrated to Calgary, the soap opera stars fled to Mexico and Colombia.

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