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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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