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Colombia Joins Argentina and Venezuela in Adopting Backward Economic Policies

The Colombian government recently “persuaded” food producers to agree to have the prices of some of their goods “frozen.” Soon the prices of products like red meat, fish, dairy, eggs, grains, and processed foods will be set by the Colombian government. Once imposed, producers of these goods will be unable to raise their prices.
According to Colombia’s Agricultural Minister, Aurelio Iragorri, the measure is intended to achieve food security following price fluctuations over the past several months.
On this blog I’ve discussed how the price system is fundamentally important. Only via the mechanisms of private property rights, prices, and profit and loss can

Read more at The Independent Institute