History. No one learns from it.
Venezuela’s Socialist price caps took toilet paper off the market because it was no longer worth producing. So the government organized an emergency import of 50 million rolls of toilet paper. That doesn’t solve the problem. Not unless you nationalize toilet paper production. And once you nationalize toilet paper, you might as well nationalize everything.
Meanwhile Venezuela is falling back on the villains of all Socialist regimes, hoarders and black marketeers.
Police in Venezuela say they have seized nearly 2,500 rolls of toilet paper in an overnight raid of a clandestine warehouse storing scarce goods.
The Thursday announcement on Twitter said that the officers raiding the garage in western Caracas also seized about 400 diapers and 7,000 liters of fruit juice.
Police chief Luis Karabin told Venezuelan news agency AVN that police, acting on a telephone tip, found “merchandise that we know is scarce on the shelves and doesn’t reach the people.”
It obvious reaches the people. It doesn’t however reach the people at the prices mandated by the regime. The existence of a black market in diapers and toilet paper is a sign of just how badly the economy is failing.