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Zimbabwe Hyperinflation

I read this New York Times story about Zimbabwe and the destruction of its economy by Mugabe and his supporters (via Greg Mankiw). The CIA Factbook (a good reference) confirms that the "official" inflation was over 1000% in 2006, and notes that Zimbabwe has a real negative growth rate.

Well, there is a certain justice in the universe: Governments made up of racist murdering thieves tend to drive their nations into poverty and death. This justice is like the justice of engineering: Poorly designed machinery tends to collapse, no matter the intentions of the designers. The tragedy is that the people that live in Zimbabwe probably didn't know any better and are the ones that will really bear the costs. (…but Mugabe has been in power for over twenty years…) Maybe it is more tragic that it didn't have to be this way.

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