Tuesday, March 25, 2008

Knowing the Price of Everything

And calculating the value of being re-elected in Zimbabwe:
Zimbabwe's President Robert Mugabe has threatened to force businesses to cut prices ahead of the 29 March elections.

Prices have again shot up after Mr Mugabe awarded huge pay rises to teachers and civil servants last month.

"We are going to read the riot act to them [businesses]," he told a campaign rally in Hwange.

The government last year ordered prices to be reduced, leading to widespread shortages. Zimbabwe's annual inflation rate is 100,000% - the world's highest.

....Mr Mugabe says white-owned businesses are raising prices in order to reduce his chances of being re-elected.

The businesses say the official prices are below the cost of production.

Some 12,000 people were arrested last year for selling goods at above the official prices.

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