Venezuela's Government Grasps Greater Economic Control

Venezuela officially unveiled the Law of Costs and Prices, legislation meant to regulate the price of basic goods, on Nov. 23. The law established the National Superintendency of Costs and Prices, which will use a process that is not entirely clear to establish a new price structure designed to address Venezuela's inflation problem. The law gives Caracas more power to threaten companies with fines, seizures and expropriations and is an attempt to gain control over larger portions of Venezuela's economy.