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.
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