LATE-STAGE SOCIALISM:
A minimum-wage worker in Venezuela could afford 5 cups of coffee each month — and nothing else.
A minimum-wage worker in Venezuela could afford 5 cups of coffee each month — and nothing else.
If you have to ask what it costs to have a socialist-leaning hipster serve that cup of coffee, you can’t afford it.Five million Venezuelan bolivars is the equivalent of $1.45. It’s also roughly a minimum-wage worker’s entire monthly salary in the South American country.Thanks to stunning inflation, it now takes 1 million bolivars to buy a cup of coffee in a Venezuelan cafe, Bloomberg reports. That’s one-fifth of Venezuela’s monthly minimum wage, and a 10,000-bill stack of Venezuela’s most common bank note, the 100-bolivar bill.
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