Venezuela to Nationalize All Food Distribution, Increase Public Wages 30%

Jon Blogosphere, Economy, Government

To combat food shortages caused by socialist policies including nationalization of half the nation’s food supply, Venezuela to Nationalize All Food Distribution.
Venezuelan President Nicolas Maduro has promised to nationalise food distribution in the South American nation beset with record shortages of basic goods, runaway inflation and an escalating economic crisis.
During a rally on Friday, on International Workers’ Day, the socialist leader allowed a union activist to ask for the nationalisation of food and essential-item distribution.
Various estimates suggest the government already controls about half of the country’s food distribution, but that hasn’t stopped record shortages in shops and markets.

This post was published at Global Economic Analysis on Sunday, May 03, 2015.