Ethan Zuckerman is in Harare, grappling with an inflation rate of 1200%.
To review – signs that your economy is in trouble include:
- You can’t use your own money to purchase essential goods and services.
- Critical goods, like petrol, can be purchased by average citizens only if they’re willing to break the law.
- Prices change so fast it’s not worth printing them.
- Your currency includes an expiration date, and may well be worthless before that date.
And it’s probably not good news if you’re brushing your teeth with beer, either.
I remember when Israel was experiencing hyperinflation, the joke was that it was cheaper to take a taxi than a bus. Why? In a bus, you pay when you get on, but in a taxi you pay when you get out.