Tuesday, July 17, 2007

Robert Mugabe, the great teacher.

Can anyone really be this stupid?

President Robert Mugabe's order that all shop prices be cut by at least half, and sometimes several times more, has forced stores to open to hordes of customers waving thick blocks of near worthless money given new value by the price cuts. The police and groups of ruling party supporters could be seen leading the charge for a bargain.

If I had to write humor about banana republics, I'm not sure if I could make such price controls up! It almost leads one to think that Mugabe is but an insane performance artist, devoting his ouvre to the illustration of what could be learned at community college remedial Economics 99. Perhaps I should thank him for providing yet another illustration of what happens when price controls are instituted in any market.

Or not.
Economists say the price cuts will only deepen the national crisis, leaving many shops bare because they will not be able to afford to restock while official retail prices remain lower than the cost of buying wholesale or importing. Mr Mugabe has dismissed such warnings as "bookish economics".

Isn't the journalistic practice of writing "Scientists say" or "economists say", as though scientific opinion and superstition or the whims of madmen are equally valid, amusing in a sick way? Editors really should check for "false balance".

But more to the point: Is Michael Moore the American Robert Mugabe? It would seem as though the man doesn't consult economists, even before making a film that proposes a healthcare policy solution.

Perhaps he believes they're being funded by the drug companies in the same conspiracy which led CNN to dare tell him he's wrong.

A new drinking game: take a big, big swig if you hear Moore use the term "bookish economics." And send me the video clip!

UPDATE: Moore has come pretty close in the past, feeling it desirable to "educate" George Mason law students about the sinister underpinnings of their studies.

This law and economics nonsense is nothing more than an attempt on the part of the corporate state to extend its reach into the legal field; and I think the graduating students should know they are little more than pawns in Corporate America's plan to erode the American way of life

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