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Price Controls
by Thomas Sowell
(November 16, 2005)
Whenever prices are "too high" -- whether these are prices of medicines or of gasoline or all sorts of other things -- many people think the answer is for the government to force those prices down.
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What Causes Unemployment?
by Thomas Sowell
(November 14, 2005)
The net economic effect of minimum wage laws is to make less skilled, less experienced, or otherwise less desired workers more expensive -- thereby pricing many of them out of jobs.
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Housing Hurdles in California
by Thomas Sowell
(February 4, 2004)
If people cannot afford even a one-bedroom apartment while making minimum wages, they certainly cannot afford it when they are unemployed -- and minimum wage laws have a track record around the world of increasing the unemployment rate.
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An Ancient Fallacy: Price Controls
by Thomas Sowell
(June 27, 2002)
Those old enough to remember the gasoline crisis of 1979 may recall sitting in long lines of cars at filling stations, waiting -- sometimes for hours -- to reach the pump. This was one of the most common consequences of price control throughout history -- a shortage. Yet how many Americans ever made the connection between the price controls of the 1970s and the gasoline shortages of the 1970s?
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Forty Centuries of Wage and Price Controls
by Charli Coon
(October 17, 2001)
So will Congress listen to the Department of Energy and to history? Or do we again have to learn this lesson the hard way?
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Price Controls: Bad Idea Whether Temporary or Permanent
by Larry Elder
(July 24, 2001)
Don't say price controls. Call it price mitigation. Call it price-hike avoidance mechanisms. Anything but price controls.
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Socialism Does Milk Good?
by Jeff Jacoby
(April 25, 2001)
The price you pay for a gallon of milk is not determined by competition and the free market.
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Smoking Down: Good news?
by Larry Elder
(September 28, 1999)
On this issue, the no-smoke folks gave two thumbs up to economists. But these same insensitive, cold-blooded, mean-spirited economists also bemoan minimum wage laws, rent control, farm subsidies, and monopolistic government schools.
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Minimum Wage, Maximum Stupidity
by Larry Elder
(September 20, 1999)
Minimum-wage laws, an icon of the political left, are particularly damaging to low-income workers. Many are locked out of jobs.
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"Spiraling" Oil Prices and "Obscene" Profits
by Larry Elder
(May 7, 1999)
No business person, operating lawfully, should ever be asked to explain profits. And implicit in the question is the absurd notion that oil executives can charge whatever they want, whenever they want, for as long as they want, without a consumer backlash -- a backlash that may mean buying more fuel-efficient cars, moving closer to work, carpooling or shopping more aggressively for cheaper gas.
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 Recommended Reading:
Capitalism: The Unknown Ideal
by Ayn Rand
Whether you are one of capitalism's alleged champions (Conservatives,
Libertarians, etc.), or actually one of its defenders (a rarity in today's
culture), or a part of the "humanitarian" lynch mob that seeks to burn a straw
man, or just a curious observer -- read Ayn Rand's
Capitalism: The Unknown
Ideal -- and then judge for yourself. |
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