In response to:

Price Controls Are Exacerbating the Damage of Hurricane Sandy

David238 Wrote: Nov 06, 2012 1:46 PM
A couple weeks ago Walter E. Williams had an article on the Townhall website that addressed this very concern. His article pointed out that it was stupid to impose price controls on things like gasoline during a hurricane because then everyone would go out and fill up their tanks and cause shortages. Turns out this is exactly what happened. Yet without price controls, people would only spend money on gas if they really needed it, and if you had a surplus you might even sell it yourself.

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.