Thomas DiLorenzo writes, "With the wave of a hand, or the flash of a legislative pen, they promise to make everything cheaper. And for more than four thousand years the results have been exactly the same: shortages, sometimes of catastrophic consequence; deterioration of product quality; the proliferation of black markets on which prices are actually higher and bribery is rampant; destruction of a nation's productive capacity in the industries where prices are controlled; gross distortions of markets; the creation of oppressive and tyrannical price control bureaucracies; and a dangerous concentration of political power in the hands of the price controllers. This is what the economically ignorant among the American public is clamoring for Congress to do..."
Four Thousand Years of Price Control - Thomas J. DiLorenzo - Mises Institute
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