U.S. Vice President Kamala Harris is reportedly planning to introduce a price control scheme for food and groceries in America should she be elected – an alarming proposal to hear as a Venezuelan, who experienced the rampant shortages and economic chaos of price controls in the flesh.
I lived through the majority of the past 25 years of the disaster known as Venezuela’s socialist revolution, having only been able to flee from Venezuela a couple of months ago. Throughout the past 20 years or so, late socialist dictator Hugo Chávez and then his successor, Nicolás Maduro, signed off on several iterations of price controls in the same style as Harris’s reported policies, each one more disastrous than the next.
The prospect of buying things “cheaper” due to price controls may seem enticing. Who wouldn’t love to save a couple dollars here and there, especially under…
