The left-wing sociologist running the Venezuelan economy doesn’t believe in inflation. Last year he wrote a pamphlet in which he insisted that “Inflation does not exist in real life.”
Inflation certainly exists in Venezuela which has seen 500% inflation. The Socialist regime responded with price controls. When stores and farmers wouldn’t sell at set prices, soldiers were sent in to take them over. Crowds initially cheered all the subsidized products. But they wouldn’t be cheering for long.
The Socialist government tried to solve its money problem by printing more money. But it wasn’t able to pay for the money it wanted to print because of the inflation which officially did not exist.
Teachers sell passing grades to students in exchange for milk and flour. Lines at government stores are endless and an entire economy has been built on buying and trades spots on food lines. Fingerprint scanners are used to enforce milk rations. And a heavy military police and military presence is required to stop mobs of starving people from grabbing the food as soon as it arrives.