I had the opportunity to ask Jay Richards how he defines "wealth" about two weeks ago when he was speaking to a group about his book Money, Greed, and God. His answer was . . means.
The people of Venezuela (where inflation is now 63.4 %) would like the means to feed their families. Watch this CNN video to see young men break into a shop to get not jewelry or electronics but bread.
CNN's story clip includes an economist who explains that government price controls have produced shortages of ingredients like cornmeal, cooking oil and flour.
What does the government do when people demonstrate for more food? First they arrest merchants on the charge of hoarding,
Then Venezuela's president, in this video, tells his people to cut consumption! Yes, his solution to people being hungry is: stop eating so much!
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