Category Archives: Price Controls

minimum wage maximum economic ignorance

Huffington Post is it at again. Showing their disdain for science, a new article declares that: The minimum wage debate is a shining example of the left’s vigor and academic prowess. Sadly, that is true. The minimum wage debate is … Continue reading

Posted in Econ 101, Economics, Goverment, Labor, Price Controls, Standard of Living, State Worship | 1 Comment

deadweight loss

The concept of Deadweight Loss is the concept of mapping the basic economic principle that people respond to incentives. In trade, if the cost of producing an item goes up, forcing an increase in price, the amount bought will decrease … Continue reading

Posted in Econ 101, Economics, Goverment, Price Controls, Taxes | 2 Comments

understanding the fall of detroit

In 1907 Eugene Richter wrote a book entitled “Pictures of the Socialistic Future”. The rise of communism and socialism did not occur until decades later, which makes the accuracy of Richter’s prophecies more chilling. Ritcher applied basic economics to how … Continue reading

Posted in Econ 101, Economics, Goverment, History, Human Nature, Labor, Leftists, Price Controls, State Worship, Taxes | Leave a comment

how the free market eliminates discrimination

It has long been argued by economists that price pressures create incentives for employers and merchants to end discrimination. This is true because when products are being sold at the natural market rate, limiting your customers necessarily shifts demand to … Continue reading

Posted in Abortion, Economics, Human Nature, Price Controls | 3 Comments

price controls topple regime

There is a major story that all Mainstream Media seems to have missed. While the MSM report on the riots in Egypt and the overthrow of the Morsi regime, they miss the real cause. Here is Michael Amerhom Youssef: More … Continue reading

Posted in Econ 101, Economics, Goverment, Leftists, Price Controls | 3 Comments

art carden being blunt on economic ignorance

On Forbes: If you’re advocating price controls and don’t understand what the laws of supply and demand have to say about your proposal, you aren’t courageous or compassionate. You’re dangerous. On EconLog: Perhaps you will be asked “what does it … Continue reading

Posted in Economics, Price Controls | Leave a comment

rental laws destroy more lives

The Huffington Post reports on two landlords in San Francisco that harassed and tormented their tenants over the course of 8 years. Already the story smells fishy. Why would landlords want to harass their tenants? Tenants pay rent, and landlords … Continue reading

Posted in Economics, Goverment, Leftists, Price Controls, Trade | Leave a comment

price controls cause famines

Thomas Sowell, in his Basic Economics, has an excellent chapter on price controls. Because prices naturally settle at an equilibrium price, if the government uses artificial means to set prices then there will either be a shortage or a surplus … Continue reading

Posted in Econ 101, Economics, Goverment, History, People, Price Controls, Sowell | 4 Comments

sowell on swedish price controls

From Thomas Sowell’s book Basic Economics: Rent control had very much the same effects in Sweden. As of 1940, there were approximately 6,330,000 people living in Sweden and there were about 1,960,000 dwelling units to house them-about 31 housing units … Continue reading

Posted in Economics, People, Price Controls, Sowell | 1 Comment