A. Barton Hinkle on What America Can Learn From Venezuela's Failures


The New York Times recently ran a devastating indictment of health-care reform and Washington's approach to it. The article didn't put it that way, naturally. In fact, it didn't even mention the Patient Protection and Affordable Care Act. Instead, the piece concerned shortages of essential goods in Venezuela, and the causes behind them. But as A. Barton Hinkle observes, the lessons are the same: Price controls and other centrally-planned government approaches only make things worse.