Socialism: Equal Sharing Of The Miseries

A user from the popular image sharing site imgur has uploaded a series of photos showing food lines in Venezuela. The lines are undoubtedly the result of new price controls that President Nicolas Maduro has instituted as an effort to tame inflation.

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The “Fair Price Law” is causing devastating shortages due to the fact that by putting caps on prices eliminates the the first law of economics, supply and demand. The law sets a maximum profit margin of 30% and requires firms to obtain “fair price” certificates to access dollars through the government’s currency system.

People reportedly wait in line up to four hours to get food at the grocery store.

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About The Author

Austin Petersen
Founder and Editor in Chief

Austin Petersen is the founder of The Libertarian Republic, as well as the CEO of Stonegait LLC. Formerly an Associate Producer for Judge Andrew Napolitano's show "Freedom Watch", on the Fox Business Network. Austin was referred to by the Judge as "The right side of my brain". He built Judge Napolitano's social networks with over 700,000 fans and millions of clicks a month. Austin graduated from Missouri State University. He has written and produced award winning plays and videos, and previously worked for the Libertarian National Committee and the Atlas Economic Research Foundation.