Some things to think about

"The forces of the market are just that: They are forces; they are like the wind and the tides; they are things that if you want to try to ignore them, you ignore them at your peril, and ... if you find a way of ordering your life that is compatible with these forces, indeed which harnesses these forces to the benefit of your society, that's the way to go." -- Arnold Harberger, University of Chicago Economist

Saturday, November 3, 2012

‘Maximum temperature law’ to prevent ‘temperature gouging’ makes as much sense as laws to prevent ‘price gouging’

‘Maximum temperature law’ to prevent ‘temperature gouging’ makes as much sense as laws to prevent ‘price gouging’

Excellent analogy that shows what prices really are, and why price controls inevitably produce unintended and undesirable effects.
Posted by Bob Jones at Saturday, November 03, 2012
Labels: Information, Price Controls
Newer Post Older Post Home

Milton Friedman

Milton Friedman
My favorite economist (click for a short sample)

Thomas Sowell

Thomas Sowell
My favorite living economist (click for a short sample)

About Me

My photo
Bob Jones
View my complete profile

Blog Archive

  • ►  2014 (1)
    • ►  January (1)
  • ►  2013 (33)
    • ►  August (1)
    • ►  July (1)
    • ►  June (1)
    • ►  May (3)
    • ►  April (7)
    • ►  March (6)
    • ►  February (11)
    • ►  January (3)
  • ▼  2012 (69)
    • ►  December (9)
    • ▼  November (17)
      • Panic in Persia as Hyperinflation Hits Iran | Stev...
      • Natural disasters benefit the economy (and other m...
      • Twinkees, unions, and jobs
      • The most important lesson to be learned from the 1...
      • I, Pencil Movie - YouTube
      • How to Fix the Gas Shortage: Let ’em Gouge - US Bu...
      • The Morality of the Free Market - Walter Williams ...
      • Craigslist Crime Wave - WSJ.com
      • Some post-election cheer and encouragement
      • Sandy Price Gouging Probed: $7 Loaf of Bread, $10 ...
      • Huge crowds line up for free gas trucked in by gov...
      • Christie Orders Odd-Even Rationing System For Fill...
      • Price gouging complaints in New Jersey - New York ...
      • ‘Maximum temperature law’ to prevent ‘temperature ...
      • "I want to be a consumer"
      • An example of laws against "price gouging" - New J...
      • Price Gouging Saves Lives in a Hurricane - David M...
    • ►  October (2)
    • ►  September (3)
    • ►  August (10)
    • ►  July (6)
    • ►  June (2)
    • ►  May (2)
    • ►  April (2)
    • ►  March (5)
    • ►  February (6)
    • ►  January (5)
  • ►  2011 (127)
    • ►  December (1)
    • ►  November (7)
    • ►  October (11)
    • ►  September (11)
    • ►  August (15)
    • ►  July (13)
    • ►  June (5)
    • ►  May (11)
    • ►  April (13)
    • ►  March (14)
    • ►  February (13)
    • ►  January (13)
  • ►  2010 (253)
    • ►  December (6)
    • ►  November (19)
    • ►  October (17)
    • ►  September (16)
    • ►  August (20)
    • ►  July (18)
    • ►  June (48)
    • ►  May (26)
    • ►  April (20)
    • ►  March (19)
    • ►  February (19)
    • ►  January (25)
  • ►  2009 (164)
    • ►  December (15)
    • ►  November (8)
    • ►  October (7)
    • ►  September (11)
    • ►  August (22)
    • ►  July (6)
    • ►  June (10)
    • ►  May (18)
    • ►  April (7)
    • ►  March (22)
    • ►  February (27)
    • ►  January (11)
  • ►  2008 (131)
    • ►  December (12)
    • ►  November (9)
    • ►  October (38)
    • ►  September (24)
    • ►  August (4)
    • ►  July (12)
    • ►  June (1)
    • ►  May (1)
    • ►  April (25)
    • ►  March (2)
    • ►  February (3)

Search This Blog

Econ 2000

  • "Crisis" (3)
  • "Visions" (6)
  • 2012 Election (1)
  • 7 days only (2)
  • Add (6)
  • Analysis (2)
  • Antitrust (3)
  • Audio (1)
  • Bear Stearns (13)
  • Bond Market (8)
  • Capitalism (42)
  • career advice (2)
  • China (4)
  • Classical views (1)
  • Competition (13)
  • Cost/Benefit (3)
  • Data (11)
  • Debt (3)
  • Deflation (1)
  • Depression (24)
  • ECB (1)
  • Econ 2000 (68)
  • Economic Growth (10)
  • Economic Systems (1)
  • Energy (4)
  • Exchange Rates (2)
  • Expectations (16)
  • Externalities (1)
  • FDIC Insurance (4)
  • Fed Policy (33)
  • Fed Tools (13)
  • FEE (1)
  • Fiscal Policy (18)
  • Flight to Quality (3)
  • Framing (15)
  • Friedman (5)
  • Gas Prices (2)
  • GDP (2)
  • Gov Debt (28)
  • Gov Deficits (8)
  • Gov v Market Decisions (66)
  • Greece (10)
  • Hayek (20)
  • Healthcare (37)
  • history (39)
  • Housing (6)
  • Incentives (13)
  • Income Differences (1)
  • Inflation (48)
  • Information (4)
  • Interest Rates (9)
  • International Trade (20)
  • Keynesian views (31)
  • Knowledge Problem (5)
  • LP (42)
  • Market Reactions (10)
  • minimum wage (4)
  • Misc. (8)
  • Money and Banking (5)
  • money and inflation (1)
  • New Data (4)
  • Oil Spill (11)
  • Opportunity Cost (1)
  • Oppportunity Cost (24)
  • Personal Finance (2)
  • Philosophy (2)
  • Political (71)
  • Positive Econ. (7)
  • Power (13)
  • Price Controls (25)
  • Price gouging (8)
  • Profit motive (14)
  • Property Rights (5)
  • Prosperity (2)
  • Questions (15)
  • Rationing (5)
  • Reagan (3)
  • Recessions (14)
  • Reference (3)
  • Regime Uncertainty (4)
  • Regulations (41)
  • Risk (6)
  • Rule of Law (36)
  • Scarcity (8)
  • SIFE (1)
  • Socialism (33)
  • Sowell (50)
  • Specialization (17)
  • Stossel (1)
  • Supply and Demand (25)
  • Taxes (5)
  • Technology (3)
  • TED (1)
  • Time Horizons (5)
  • today (4)
  • Tradeoffs (20)
  • Treasury Securities (5)
  • Unemployment (22)
  • Unintended Consequences (53)
  • Unions (1)
  • Values/Ethics (37)
  • Velocity (2)
  • Video (96)
  • Visions (1)
  • Walter Williams (4)
  • Wealth v. Poverty (42)
  • Xtranormal (2)
  • z (8)

Weekly Economic Summaries - updated Friday evenings

  • Simply Economics
  • Vanguard's Economic Week in Review

Breaking News About Current Market Conditions

  • Current Federal Debt and the Ceiling
  • TED Spread: Difference between 3 month Libor and Treasury rates
  • Credit Spreads
  • Credit Markets
  • The Wall Street Journal
  • CNBC
  • Bloomberg

Commentary

Theme images by luoman. Powered by Blogger.