Argentina moves to impose price, production controls

[Zorro]

Source: AFP

Argentina's Senate on Thursday passed a bill sponsored by President Cristina Kirchner that would empower her government to regulate prices and production to combat high inflation, drawing sharp objections from the private sector.

The Senate voted 38 to 27 to pass the bill, which must still be passed by the lower house to become law.

The Chamber of Deputies, where Kirchner's supporters also hold the majority, was expected to take up the measure in two weeks.

The bill empowers the government to set "profit margins, reference prices as well as maximum and minimum prices for the provision of indispensable goods and services."

Read more: http://news.yahoo.com/argentina-moves-impose-price-production-controls-190323882.html

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Oh yeah this will turn out well.

[PoliticAverse]

1. I've seen this movie before. n/t

[Nye Bevan]

2. Has the imposition of price controls ever worked successfully,

as a long-term solution to controlling inflation?