If It Was Good Enough For Diocletian....
Price controls, like those famously instituted by Diocletian, are something like 0 for 162,000 in their success rate at "fixing" inflation.
So of course, Argentina has instituted price controls on supermarkets. Argentina, meet Zimbabwe. Another agricultural powerhouse that will soon see food shortages.
Eris Guy:
Poor Argentina combines the reflexive stupidity of politicians and lawyers who believe because they are in charge laws may be issued that repeal nature and a culture that romanticizes past politicians despite ugly failures. I don’t think this will come to an end until Argentina is conquered and humiliated.
February 6, 2013, 2:11 amobloodyhell:
Price controls, from Z to A?
February 6, 2013, 7:09 amobloodyhell:
If they keep trying to take back the Falklands, I imagine the UK could do it...
But the Brits have their own governmental folderol to complicate things, so methinks that not likely to be helpful.
I think the only way to free Argentina of this idiocy is to employ the "Jewish Diaspora" scheme. That will infect the entire world with their stupidity, but it should delete their "stupid" genes a bit.
February 6, 2013, 7:12 amDan Hill:
It's also instructive that the underlying problem Diocletian was trying to address was rampant inflation caused by debasement of the currency. United States meet Ancient Rome, another over-extended empire on the wane...
February 6, 2013, 8:18 ambigmaq1980:
"In the edict, Diocletian declared that the current pricing crisis resulted from the unchecked greed of merchants, and had resulted in turmoil for the mass of common citizens" - Wiki
That edict was passed in 301.
Here we are some 1700 years later, and politicians use the same "greed" justification for the same failed policies.
Folks, wake up....these "leaders" are not "ignorant" of history or economics, they just think their people are - and they look for any way to retain power for themselves while enriching themselves - THAT has not changed in 1700 years either!
February 6, 2013, 9:29 amjhertzli:
If inflation is due to greed... Is deflation due to generosity?
February 9, 2013, 7:49 pm