Quote

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
Free
Demand
Controlled
Invariably
Use
Products
Product
Controls
Black
Whose
Economics
Reduced
Keep
Level
Price
Prices
Things
Levels
Conservative
Increased
Would
Almost
Market
Supply
Quality
Service
Markets
Deterioration
Four
Reach
Followed
Imposition

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All too often, we do smart things only after exhausting every conceivable dumb thing we could have done.
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In a democracy, we have always had to worry about the ignorance of the uneducated. Today we have to worry about the ignorance of people with college degrees.
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Any politician who can be elected only by turning Americans against other Americans is too dangerous to be elected.
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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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The next time some academics tell you how important diversity is, ask how many Republicans there are in their sociology department.
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