Tuesday, February 12, 2013

Some Good Points on why Price Controls are evil

In a blog post at lewrockwell.com, John Keller states the following reasons why price controls are immoral:


    The government interferes directly with the right of contract between two consenting parties
    The government claims some ownership over the goods in question by dictating its price
    They are a government reaction to prices, which show government's mismanagment of the currency
    They are an attempt to shift the blame for said mismanagement from the government to the productive class
    They inculcate a sense of entitlement and jealousy among the less educated, who complain about price gouging
    They are always accompanied by edicts to report said price gougers, turning the entire nation into potential informers
    They lead inevitably to shortages of the most basic items which are always the target of controls - gas, food, and other staples (no one puts price controls on Bentleys and Rolexes) 

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