Price controls are a spectacularly foolish idea, and that’s true whether they’re imposed by thugs such as Hugo Chavez in Venezuela or bureaucrats at the Department of Health and Human Services.
That’s why one of the 20th Century’s economic heroes is Ludwig Erhard, who unleashed the post-war German miracle by abolishing the price controls imposed by the allied powers.
Notwithstanding all this history, politicians oftentimes can’t resist doing the wrong thing, as you can see from this new Reason TV video.
- Quotes of the day Allahpundit 20 mins ago
- Super: NASA’s asteroid avoidance program is on par with the rest of the federal government Mary Katharine Ham 59 mins ago
- Adrian Peterson: “I am, without a doubt, not a child abuser.” Jazz Shaw 1 hour ago
- Video: Florida mom arrested, charged with child neglect for letting her seven-year-old have a sip of whiskey Allahpundit 2 hours ago
- Officer in Daniele Watts handcuff incident was responding to a call Jazz Shaw 3 hours ago
- Friendly reminder: Republicans could absolutely fail to win the Senate Guy Benson 3 hours ago