A Silver Lining
19 April 2007
Editor, The Wall Street Journal
200 Liberty Street
New York, NY 10281
To the Editor:
Three cheers for Bill Archer's and Charles Stenholm's clear case against government-imposed price controls ("Gasbags," April 19). The only upside of such controls is that they make teaching easier for us economics professors. Our students can't help but see the shortages, queues, and corruption that inevitably accompany price caps. All economics professors must then do is to point out that such troubles and perversities are absent from markets in which prices aren't controlled. Students' appreciation of the power of supply and demand - and of the coordinative role of prices - is assured.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Editor, The Wall Street Journal
200 Liberty Street
New York, NY 10281
To the Editor:
Three cheers for Bill Archer's and Charles Stenholm's clear case against government-imposed price controls ("Gasbags," April 19). The only upside of such controls is that they make teaching easier for us economics professors. Our students can't help but see the shortages, queues, and corruption that inevitably accompany price caps. All economics professors must then do is to point out that such troubles and perversities are absent from markets in which prices aren't controlled. Students' appreciation of the power of supply and demand - and of the coordinative role of prices - is assured.
Sincerely,
Donald J. Boudreaux
Chairman, Department of Economics
George Mason University
Posted by Don Boudreaux on
Monday November 26, 2007 at 1:07pm