July 17, 2008

Compare and Contrast, Macroeconomics Edition

Quico says: How a professional economist understands inflation:

How a chavista minister understands inflation:
"If we all start to haggle, speculators are going to start feeling the pressure. If millions of consumers exercise that kind of pressure, to insist that prices drop and for some supply to remain, imagine what could happen!"
UPDATE: Watch Jaua's outburst morph from isolated inanity into government policy.