Venezuelan President Nicolas Maduro wants to put price controls on all consumer goods.
From the BBC:
Venezuelan President Nicolas Maduro says he plans to extend price controls to all consumer goods, if he is given powers to govern by decree.
In a televised address, Mr Maduro said that he wanted to set legal limits on businesses' profit margins.
The news comes after electronic stores accused of selling products at inflated prices were seized in Venezuela.
From the Los Angeles Times:
Venezuelan President Nicolas Maduro ordered the "occupation" of a chain of electronics stores after the socialist government accused the company of overcharging its consumers.
Troops went to the Daka chain's five stores and ordered the company to start selling its products at lower prices, Reuters reported. Several managers of the company were arrested.
What could possibly go wrong?
Follow this story and more at Reason 24/7.
Spice up your blog or Website with Reason 24/7 news and Reason articles. You can get the widgets here. If you have a story that would be of interest to Reason's readers please let us know by emailing the 24/7 crew at email@example.com, or tweet us stories at @reason247.