Venezuela’s Hyperinflation: Toilet Paper Shortages

Inflationism destroys economic calculation and the division of labor. Such has been most evident in nations experiencing extreme form of inflation, particularly hyperinflation such as Venezuela

From the US Today:(hat tip EPJ)

CARACAS, Venezuela (AP) — First milk, butter, coffee and cornmeal ran short. Now Venezuela is running out of the most basic of necessities — toilet paper.

Blaming political opponents for the shortfall, as it does for other shortages, the embattled socialist government says it will import 50 million rolls to boost supplies.

That was little comfort to consumers struggling to find toilet paper on Wednesday.

"This is the last straw," said Manuel Fagundes, a shopper hunting for tissue in downtown Caracas. "I'm 71 years old and this is the first time I've seen this."

Yet inflationism has never been an isolated policy. Inflationism has always been part of a general policy of social repression. Thus, price controls have signfied as inflationism’s alter ego.

More from the same article;

Economists say Venezuela's shortages stem from price controls meant to make basic goods available to the poorest parts of society and the government's controls on foreign currency.

"State-controlled prices — prices that are set below market-clearing price — always result in shortages. The shortage problem will only get worse, as it did over the years in the Soviet Union," said Steve Hanke, professor of economics at Johns Hopkins University.

Politicians have and will always pass the blame on everyone else but themselves. Such would lay the excuse for doing more of the same.

Interventionism begets interventionism until the society collapses.