I am sending the President of Venezuela a copy of the 3rd edition textbook

Dear President Maduro,

I read about your efforts to make peace with the grocery stores to help alleviate shortages.  The toilet paper shortage seems particularly acute:

Government officials said this week they plan to immediately import food and 50 million rolls of toilet paper to keep up supplies. 

Increasing imports and government-set prices may work in the short run, but you will soon find yourself right back in the same position.  Government-administered prices cannot adjust fast enough to keep up with changing demand.

Over the years, I have taught many students from your country and they learn (spelled out clearly in Chapter 2), that voluntary transactions create wealth, and that price controls, taxes, and subsidies destroy wealth. 

I am going to send you a copy of my brand new third edition.  It is easy to read and will teach you to anticipate the consequences of various government policies that you might pursue.

If you cannot wait for the hard copy, you can buy an electronic version from Cengage, from Amazon, or from Barnes and Noble.

Please contact me if you have any questions.

Sincerely,

Professor Luke Froeb
Vanderbilt University