Zimbabwe invites an anarchy pool
Michael Wines’ describes Zimbabwe’s comical efforts to fight inflation in the New York Times: Zimbabwe?s week-old campaign to quell its rampant inflation by forcing merchants to lower prices is edging the nation close to chaos, some economists and merchants say. As the police and a pro-government youth militia swept into shops and factories, threatening arrest ...
Michael Wines' describes Zimbabwe's comical efforts to fight inflation in the New York Times: Zimbabwe?s week-old campaign to quell its rampant inflation by forcing merchants to lower prices is edging the nation close to chaos, some economists and merchants say. As the police and a pro-government youth militia swept into shops and factories, threatening arrest and worse unless prices were rolled back, staple foods vanished from store shelves and some merchants reported huge losses. News reports said that some shopkeepers who had refused to lower prices had been beaten by the youth militia, known as the Green Bombers for the color of their fatigues. In interviews, merchants said that crowds of people were following the police and militia from shop to shop to buy goods at the government-ordered prices. ?People are losing millions and millions and millions of dollars,? said one merchant in Bulawayo, referring to the Zimbabwean currency, which is becoming worthless given the nation?s inflation, the world?s highest. ?Everyone is now running out of stock, and not being able to replace it.? Because the government has threatened to seize any business that does not sell goods at the advertised price, the merchant said he was keeping his shop open, but with virtually nothing on the shelves. Economists said that the price rollbacks were unsustainable and that shops and manufacturers would soon shut down and lay off workers rather than produce goods at a loss. ?You can?t buy eggs or bread or things of that sort,? said John Robertson, an economic consultant in Harare, the capital. ?Suppliers can?t supply them at a price that allows retailers to make a profit.? ?It?s pretty chaotic,? he added. ?But I think the impact will be worse if it stays in place.? Zimbabwe?s annual inflation rate was last reported to be 4,500 percent in May, a figure the government has yet to confirm. Mr. Robertson and others say that the true rate now is probably about 10,000 percent, but official statistics apparently are no longer being released. He and others said they feared that the economic collapse would quickly lead to social unrest if Zimbabwe?s already shrunken work force were hit by huge layoffs and foods like cornmeal, cooking oil and sugar became unavailable. I'm offering five weeks as the over/under before complete lawlessness and anarchy break out in that country.
Michael Wines’ describes Zimbabwe’s comical efforts to fight inflation in the New York Times:
Zimbabwe?s week-old campaign to quell its rampant inflation by forcing merchants to lower prices is edging the nation close to chaos, some economists and merchants say. As the police and a pro-government youth militia swept into shops and factories, threatening arrest and worse unless prices were rolled back, staple foods vanished from store shelves and some merchants reported huge losses. News reports said that some shopkeepers who had refused to lower prices had been beaten by the youth militia, known as the Green Bombers for the color of their fatigues. In interviews, merchants said that crowds of people were following the police and militia from shop to shop to buy goods at the government-ordered prices. ?People are losing millions and millions and millions of dollars,? said one merchant in Bulawayo, referring to the Zimbabwean currency, which is becoming worthless given the nation?s inflation, the world?s highest. ?Everyone is now running out of stock, and not being able to replace it.? Because the government has threatened to seize any business that does not sell goods at the advertised price, the merchant said he was keeping his shop open, but with virtually nothing on the shelves. Economists said that the price rollbacks were unsustainable and that shops and manufacturers would soon shut down and lay off workers rather than produce goods at a loss. ?You can?t buy eggs or bread or things of that sort,? said John Robertson, an economic consultant in Harare, the capital. ?Suppliers can?t supply them at a price that allows retailers to make a profit.? ?It?s pretty chaotic,? he added. ?But I think the impact will be worse if it stays in place.? Zimbabwe?s annual inflation rate was last reported to be 4,500 percent in May, a figure the government has yet to confirm. Mr. Robertson and others say that the true rate now is probably about 10,000 percent, but official statistics apparently are no longer being released. He and others said they feared that the economic collapse would quickly lead to social unrest if Zimbabwe?s already shrunken work force were hit by huge layoffs and foods like cornmeal, cooking oil and sugar became unavailable.
I’m offering five weeks as the over/under before complete lawlessness and anarchy break out in that country.
Daniel W. Drezner is a professor of international politics at the Fletcher School of Law and Diplomacy at Tufts University and co-host of the Space the Nation podcast. Twitter: @dandrezner
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