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News Link • Economy - International

Argentina Goes Full-Venezuela - Plans To Regulate Prices, Profits, & Production

• http://www.zerohedge.com, by Tyler Durden
As WSJ reports, the great minds that 'run' Argentina have decided to pass legislation (dubbed "the supply law") letting the government regulate private-sector prices, profit margins and production levels. The opposition is up in arms, "this is absolutely ridiculous. It's part of a very primitive ideology that says government officials should decide what people should make, how much they should make and how much they should charge," adding that "we already know exactly what it is like to suffer from these kind of interventionist economic policies," in Venezuela.

 As The Wall Street Journal reports,

A month after Argentina defaulted on its debt, big companies here say they fear that something else could do much more damage to the economy - legislation letting the government regulate private-sector prices, profit margins and production levels.

On Thursday, Argentina's senate passed a bill to do just that. The bill is expected to pass the lower house within weeks.

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