Price controls – both price ceilings and price floors – reduce the quantities of price-controlled goods and services that consumers actually get.
Don Boudreaux explains why Price Controls destroy productivity. What is true of artificially low prices (price ceilings) and artificially high costs (minimum wages) are so bad for everyone – not just business.
On Jan. 24, 2017, PBS aired a two-hour special on Rachel Carson, the mother of the environmental movement. Although the program crossed the line from biography to hagiography, in Carson’s case, the unbridled praise was well deserved – with one exception.
Millions Died Thanks to the Mother of Environmentalism
Capitalists act as a disciplined group preying upon workers and consumers only if they succeed in persuading the state to orchestrate and oversee such predations. Tariffs, occupational licensing, and other state interventions – typically cheered naively by “Progressives” as “victories” for the People – are all too often the means used by producer groups to steal what does not belong to them.
Note: I use the term “capitalism” loosely, since by definition, once business owners begin seeking this type of privilege, they are no longer acting as capitalists, but as cronies.
nor shall you be partial to a poor man in his lawsuit.
Exodus 23:3 ESV
Nobody likes being told there is no such thing as a free lunch. But it is incredibly important. Unless someone reminds the public that free lunches are illusory, they may never figure out how to get a meal in the first place.
Alex Salter, Economist-Man and His Never-Ending Battle
An outstanding explanation of “rent seeking,” and how it destroys wealth and opportunity.
Why Did America Fight the Vietnam War?
I never fail to be struck by wonder at the sight of a thunderhead.
I’ve been thinking this lately. I’m surprised to learn many things like this.
Considering what is indeed the historically unprecedented great enrichment that market economies have created for the masses, to complain about today’s differences in monetary incomes or wealth is akin to complaining about the color of a rescue ship that has just saved the lives of hundreds of people who were on the verge of drowning at sea.
– Don Boudreaux
Bogged at Cafe Hayek
Pretty good sized spider for a hunter.