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Quotation of the Day…

Posted By Don Boudreaux On June 20, 2013 @ 6:39 am In Prices,Reality Is Not Optional,Regulation,Seen and Unseen | Comments Disabled

… is from Art Carden’s July 8, 2011 Forbes essay, “Price Controls Make A Statement About Society [1]“:

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 [2].”   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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[1] Price Controls Make A Statement About Society: http://www.forbes.com/sites/artcarden/2011/07/08/price-controls-make-a-statement-about-society/

[2] the intellectual equivalent of drunk driving: http://www.fee.org/the_freeman/detail/proposers-versus-producers#axzz2WkfvKBic

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