Basic economics
WorldNetDaily
by Walter E. Williams
12/07/05
Economic ignorance, misconceptions and superstition drive us toward totalitarianism because they make us more willing to hand over greater control of our lives to politicians. That results in a diminution of our liberties. Think back to the gasoline price controls during the 1970s. The price controls caused shortages. To deal with the shortages, restrictions were imposed on purchases. Then national highway speed limits were enacted. Then there were more calls for smaller and less crashworthy cars. With the recent gasoline supply shocks, we didn't experience the shortages, long lines and closed gas stations seen during the 1970s. Why? Prices were allowed to perform their allocative function -- get people to use less gas and get suppliers to supply more...
http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=47781
Informant: Thomas L. Knapp
by Walter E. Williams
12/07/05
Economic ignorance, misconceptions and superstition drive us toward totalitarianism because they make us more willing to hand over greater control of our lives to politicians. That results in a diminution of our liberties. Think back to the gasoline price controls during the 1970s. The price controls caused shortages. To deal with the shortages, restrictions were imposed on purchases. Then national highway speed limits were enacted. Then there were more calls for smaller and less crashworthy cars. With the recent gasoline supply shocks, we didn't experience the shortages, long lines and closed gas stations seen during the 1970s. Why? Prices were allowed to perform their allocative function -- get people to use less gas and get suppliers to supply more...
http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=47781
Informant: Thomas L. Knapp
Starmail - 7. Dez, 19:26
