Price Controls

Arab Oil Embargo Would Not Be a Threat to a Free Market Economy

If the United States had had a free market in oil when the Arabs imposed their embargo, its oil supplies could not have been seriously jeopardized.

Price Controls and the California Blackouts: An Old Problem Returns

The last time so many people were as bedeviled as the people of California are today by electrical blackouts was back in 1979, when motorists in cities across the country were lined up for hours at filling stations, waiting to get gas. Both shortages had the same...

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...