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Edgar BettsVenezuela Issues ID Card for Food Hoarding

Dear Members and Friends of the Smart Card Alliance Latin America – SCALA:

Many can argue that the problems in Venezuela are caused by price controls, exchange rates, deficit controls, and other economic factors. All of these hold some truth regarding the crisis our regional neighbor faces.   In my perspective the underlying issue in this country is scarcity; they are unable to produce, purchase, or bring in goods and services from other markets into the country. The government’s attempt to control quantities, individuals, and products just adds to the already complex system of exchange of goods and services between producers and consumers.

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