I was so tempted to blog after reading this blogpost on Prof Mankiw’s blog. He gets an email from someone in Venezuela:
I´m from Venezuela. And this picture shows the kind of things you find when you go to a Mercado Bicentenario in Venezuela (which is the new name of a chain of private markets -Cada and Exito- recently expropiated and now runned by the Government).
This one is from Mercado Bicentenario, in Centro Comercial Ciudad Tamanaco (CCCT), a mall, in Caracas, Venezuela. It says:
Description of the product: Diana Oil.
Fair Price: 4,73 Bfs.
Capitalist Price: 7 Bfs
% of savings: 32%.
My best regards, and congratulations for your blog, books and everything!
Check the pic on Mankiw’s blog.
Capitalist price!! I have not heard a decent economics humor for a while.This one was really amusing.
It is kind of nudging people into hating capitalism. What in other stores is shown as market price and our price is replaced with capitalist price and fair price. By reading this people are bound not to like capitalism. I mean who like higher prices.