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Four things have almost invariably followed the imposition of controls to keep prices below the level they would reach under supply and demand in a free market: (1) increased use of the product or service whose price is controlled, (2) Reduced supply of the same product or service, (3) quality deterioration, (4) black markets.

Thomas Sowell

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Thomas Sowell
Age: 94
Born: 1930
Born: June 30
Economist
University Teacher
Gastonia
North Carolina
Keep
Level
Price
Prices
Things
Levels
Conservative
Increased
Would
Almost
Market
Supply
Quality
Service
Markets
Deterioration
Four
Reach
Followed
Imposition
Free
Demand
Controlled
Invariably
Use
Products
Product
Controls
Black
Whose
Economics
Reduced

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Even when black youth gangs target white strangers on the streets and spew out racial hatred as they batter them and rob them, mayors, police chiefs and the media tiptoe around their racism and many in the media either don't cover these stories or leave out the race and racism involved.
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A passionate commitment to social justice is no substitute for knowing what the hell you're talking about.
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To say that 'wealth in America is so unfairly distributed in America,' as Ronald Dworkin does, is grossly misleading when most wealth in the United States is not distributed: at all. People create it, earn it, save it, and spend it.
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I have never understood why it is greed to want to keep the money you have earned but not greed to want to take somebody else's money.
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American society in recent years has been imitating behavior patterns that have produced negative - and sometimes catastrophic - consequences in many other countries around the world.
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Study after study, not only here but in other countries, show that the most affordable housing is where there has been the least government interference with the market - contrary to rhetoric.
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'Global warming' is just the latest in a long line of hysterical crusades to which we seem to be increasingly susceptible.
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Much of the social history of the Western world, over the past three decades, has been a history of replacing what worked with what sounded good.
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Whether as a radical student, a community organizer or a far left politician, Barack Obama's ideology has been based on a vision of the Haves versus the Have Nots. . .Obama's ideology is an ideology of envy, resentment, and payback.
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The difference between a policy and a crusade is that a policy is judged by its results, while a crusade is judged by how good it makes its crusaders feel.
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In the string of amazing decisions made during the first year of the Obama administration, nothing seems more like sheer insanity than the decision to try foreign terrorists, who have committed acts of war against the United States, in federal court, as if they were American citizens accused of crimes.
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Competition does a much more effective job than government at protecting consumers.
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Wise men wrote the Constitution, but clever judges have been destroying it, bit by bit, turning it into an instrument of arbitrary judicial power, instead of a limitation on all government power.
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Most of the founders of this country had day jobs for years. They were not career politicians. ... We need leaders with experience in the real world, not experience in the phony world of politics.
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If increased government spending with borrowed or newly created money is a 'stimulus,' then the Weimar Republic should have been stimulated to unprecedented prosperity, instead of runaway inflation and widespread economic desperation that ultimately brought Adolf Hitler to power.
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Riskier mortgage lending practices, imposed by government, were what set the stage for many mortgage payments to stop and thus for the financial disasters that followed. Political rhetoric, echoed in the media, seeks to obscure that painfully plain fact.
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Facts do not speak for themselves. They speak for or against competing theories. Facts divorced from theories or visions are mere isolated curiosities.
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You may have the right to live anyway you like, but you don't have a right to have other people like it. Respect it or pay for it.
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People who have never run even a modest little business assert with great certainty and indignation that heads of multinational corporations are paid much more than they are worth. People who know nothing about medicine and nothing about economics unhesi.
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Too often the past has been twisted to fit the visions and agendas of the present.
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