Price Controls

Help Wanted: Price Gougers and Profiteers

Anti-price gouging laws are not only unjust, but to the extent they cause shortages in emergencies they also deprive people of things they need badly and would be willing to pay more for.

Price Controls Attack the Freedom of Speech

Price Controls Attack the Freedom of Speech

We increasingly live in a new “dark age” of economic ignorance, and even stupidity. Few things exemplify this trend as much as the call for price controls over the interactions of multitudes of people in the marketplace of supply and demand. There are few government...

Wages War

Wages War

Many high employment “countries such as Iceland, Norway, Sweden and Switzerland” have no minimum wage laws.

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An Ancient Fallacy: Price Controls

When Hawaii recently passed a law controlling how high the price of gasoline can go in that state, it was the first law controlling the price of gasoline since 1981, when President Ronald Reagan ended federal control over oil prices. What was unusual about the...

Forty Centuries of Wage and Price Controls

Even the Department of Energy's study found that price caps -- which, let's not forget, are what got California into this mess in the first place -- won't improve the energy situation. In fact, they'll likely make it worse. The study concluded that a $150 "hard cap"...

Price Controls and the Electricity Crisis in California

It was only a passing news item when the financial information service Standard & Poor's lowered the rating it gave to bonds issued by the state of California. But it has big implications and it also shows the big difference between economics and politics. At the...

Minimum Wage, Maximum Stupidity

Warning: Over certain issues, otherwise intelligent people may, repeat, may suffer instantaneous, and often irreversible, brain-freeze. Take the minimum wage. The City Council in Santa Monica, Calif., a town also known as "Moscow on the Pacific," just voted...

Minimum Wage: Yet Another Republican Retreat

Every so often, without fail, the Republicans remind me why I don't join the party. A recovering drug and alcohol abuser, living in the streets, recently told me the following story. One day, in desperate need of money, he went to the owner of a convenience store. The...