DISASTEROUS APPEAL

“Politicians exploit public demands that government ought to do something about this or that problem by taking measures giving them greater control over our lives. For the most part, whatever politicians do, whether it’s rent controls to produce ‘affordable’ housing, or price controls to eliminate ‘price-gouging,’ the result is a calamity worse than the original problem. For example, two of the most costly housing markets are the rent-controlled cities of San Francisco and New York. If you’re over 40, you’ll remember the chaos produced by the gasoline price controls of the 1970s. Socialist agendas have considerable appeal, but they produce disaster, and the more socialist they are, the greater the disaster.” —Walter Williams