Life Under Socialism
By Arnold Kling
Ibsen Martinez writes about life in Venezuela.
Consider breakfast. My breakfast, to be exact. It’s been months since I have had an oatmeal breakfast or a nice cup of espresso with a drop of milk because coffee and milk has literally vanished from supermarkets’ shelves since last November. And that includes “Mercal”, the government’s supermarket network where the poor are supposed to buy food at subsidized low prices
The reason? Stiff price controls, of course, and fixed currency rates that have been going on for 5 years, too.
Recently, I heard a joke about Cuba’s economy, from a professor who travels there annually.
One Cuban young woman complains to another. “He lied to me! He told me that he was a luggage handler! It turns out, he’s nothing but a neurosurgeon!”
Luggage handlers working the tourist hotels often make more in one day than medical doctors receive in a month.