Quotation of the Day…

by Don Boudreaux on June 20, 2013

in Prices, Reality Is Not Optional, Regulation, Seen and Unseen

… is from Art Carden’s July 8, 2011 Forbes essay, “Price Controls Make A Statement About Society“:

The Foundation for Economic Education’s Sheldon Richman once said that advocating policies when you don’t understand their unintended consequences is “the intellectual equivalent of drunk driving.”   If you’re advocating price controls and don’t understand what the laws of supply and demand have to say about your proposal, you aren’t courageous or compassionate.  You’re dangerous.

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