Some truths are completely counterintuitive.
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.
To rob this get-out-the-vote myth of its glamour, no more is required than to compare ballot-casting as a means of selecting representatives with a method devoid of all voter judgment: selection by lot. Politically unthinkable as it is, reflect, just for fun, on your own congressional district. Disqualify those under 21, the insane, all illiterates, and all convicts.4 Write the names of the balance on separate cards to put into a mixing machine, and let some blindfolded person withdraw one card. Presto! Here is your next representative in Congress, for one term only. After all, how can a person qualify to vote if he is not qualified to hold the office himself? And, further, it is assumed, he will feel duty-bound to serve, as when called for jury duty.
– Leonard Read
Socialism depends upon and presupposes material achievements which socialism itself can never create. Socialism is operative only in wealth situations brought about by modes of production other than its own. Socialism takes and redistributes wealth, but it is utterly incapable of creating wealth.
– Leonard Read
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.
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