By Arnold Kling
President Robert Mugabe’s order that all shop prices be cut by at least half, and sometimes several times more, has forced stores to open to hordes of customers waving thick blocks of near worthless money given new value by the price cuts. The police and groups of ruling party supporters could be seen leading the charge for a bargain.
Read the whole thing. It’s how a dictator addresses the problem of inflation. Thanks to Long and Short Capital for the pointer.
Nick Schulz, who sent me the link, suggests that some folks want to do this to American health care prices. Sad, but true.