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while others just suck?" -- the first sentence in Chapter 1 of Eat the Rich by P.J. O'Rourke |
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___________________________________________________________ "The existence of a price doesn't imply a supply." -- Don
Lloyd
Here's where you'll find price controls examined -- in excerpts from these books: 1. "Government Price-Fixing" excerpted from ECONOMICS IN ONE LESSON by Henry Hazlitt 2. "The Power
of Incentives" excerpted from THE ARMCHAIR ECONOMIST:
Economics
and Everyday Life
3. "Price
Controls" excerpted from THE CONCISE GUIDE TO ECONOMICS
4. "From
Beatnick to Business Major, or, Taking Econ 101 for Kicks"excerpted
from EAT THE RICH: A Treatise on Economics
5. "Price
Controls Are Back!" excerpted from MAKING ECONOMIC SENSE
6. "Rules
vs. Prices" excerpted from BIONOMICS:
Economy as Ecosystem
7. "Price Controls" excerpted from BASIC ECONOMICS: A Citizen's Guide to the Economy by Thomas Sowell 8. "The Market" excerpted from ESSENTIALS OF ECONOMICS: A Brief Survey of Principles and Policies by Faustino Ballvé 9. More resources for the study of price controls are HERE.
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| *(as old world countries have done for millennia) |
| "Every citizen who has produced or acquired a product, should have the option of applying it immediately to his own use or of transferring it to whoever on the face of the earth agrees to give him in exchange the object of his desires. To deprive him of this option . . . solely to satisfy the convenience of another citizen, is to legitimize an act of plunder and to violate the law of justice." -- Frédéric Bastiat |
| "Most voters lack elementary understanding of economics. They resist even ideas as simple as 'In the long run, preserving obsolete jobs reduces production.' When prices change, vague conspiracy theories -- not supply and demand -- are their default explanation." -- Bryan Caplan |
| "It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a 'dismal science.' But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance." -- Murray N. Rothbard |
| "One of the most important reasons for studying history is that virtually every stupid idea that is in vogue today has been tried before and proved disastrous before, time and again." -- Dr. Thomas Sowell |
| "Bad and discredited ideas, it seems, never die. Neither do they fade away. Instead, they keep turning up, like bad pennies or Godzilla in the old Japanese movies." -- Murray N. Rothbard |
| "There is no error so monstrous that it fails to find defenders among the ablest men." -- Prof. John E. E. D. Acton |
| "The study of history is a powerful antidote to contemporary arrogance. It is humbling to discover how many of our glib assumptions, which seem to us noble and plausible, have been tested before, not once but many times and in innumerable guises; and discovered to be, at great human cost, wholly false." -- Paul Johnson |
| "Those who cannot remember the past are condemned to repeat it." ~ George Santayana, The Life of Reason, 1906 |
| “Americans are fed a steady diet of idiotic commentary and specious 'analyses' most of which flow smoothly down the gullets of unsuspecting nightly-news, viewers, newspaper readers, and National Public Radio devotees. But for those of us vexed with some comprehension of supply and demand, comparative advantage, the role of prices, the nature of money, and other economic insights, most of what is uttered or written by the news media on economic topics is so ignorant that it hurts to hear it.” -- by Donald J. Boudreaux |
| "Never -- and I mean never -- blindly trust the statistics you read [or hear] about the economy." -- Don Luskin, HERE |
| “In America today the same nuclear physicist who
would laugh uproariously at the thought that the average businessman should
have a vote on whether to allow physicists to study the atom would immediately
turn around and insist that he as a citizen and nothing more should have
the right to vote on whether the owners of Texas gas wells should have
the right to set their own prices for their gas, whether the Federal Reserve
should increase the money supply at a faster rate, or whether the federal
government should 'stimulate' the international economy by running budget
deficits and 'talking down' the dollar in exchange markets.
"The same sociologist who asserts with contempt that the average politician knows nothing about the realities of drug use and their effects would assert with aplomb, and without thinking to consult a single study or learning economic theory, that the government should 'solve' the problem of inflation by imposing wage and price controls upon all those businessmen who 'set their prices to rip-off obscene profits.' "And the average citizen voter, who can barely read at the so-called tenth grade level, asserts blandly that his votes justify the politicians’ use of police powers to dictate to doctors the standards of medical care and the maximum charges they can ask for their services.” -- Jack D. Douglas |
| "Economics has an extreme problem ... because essentially everything in economics has policy implications. Far too many economists let their policy preferences interfere with the conduct of their science (rather than changing their preferences in response to their scientific findings). That says nothing about economics, only something about the integrity of the economists in question." -- John Seater |
| "Economic downturns reduce economic literacy. Just when people need their economic common sense the most, they open their hearts to the crackpots. Perhaps the best example is the Great Depression, when every breed of nut got his fifteen minutes of fame." -- Bryan Caplan |
| "No 'middle class' worth the name aspires to economic benefits without bothering to acquire the skills to produce the wealth to make those benefits sustainable." -- Holman Jenkins |
| "Talk is cheap. Supply exceeds Demand." -- Bill Goffe |
| "[It's vital to develop analysis on] how proposed changes to U.S. tax policy would affect economic activity. Inside the Beltway, this type of analysis is called 'dynamic scoring.' Outside the Beltway, this is called 'economics'.” -- William W. Beach |
| PROOF that economics has entered the realm of the cool: CLICK THIS! |
| "... in terms of morality -- the right of every individual to trade freely with any other of his choosing ... ought to exist independent of whether its exercise maximizes anyone's or everyone's welfare." -- Donald L. Luskin |
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The Karl Marx Treatment Center presents: Ask the People's Economist HERE. |
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