Re:How Puerto Rico Became a Tax Haven for the Super Rich
by robotrout on Tuesday September 18, 2018 @07:57PM
(#18020442)
Exactly. Price controls result in famines and shortages.
Allow gouging, and the gouger will soon have competition to drive the price down. Very quickly, the price will drop to a reasonable level. Conversely, if you price control, there is no incentive to provide the good or service in the first place, and shortages ensue.
Government price control regulations distort markets in a dangerous way.
Allow gouging, and the gouger will soon have competition to drive the price down. Very quickly, the price will drop to a reasonable level. Conversely, if you price control, there is no incentive to provide the good or service in the first place, and shortages ensue.
Government price control regulations distort markets in a dangerous way.