Prices are a reflection of the changing relationships between needs and wants and external facts. When these change, prices must be allowed to change so that the buying and selling decisions of people can change accordingly. Price controls of any kind prevent people from adjusting their behavior to the changes confronting them. They paralyze people and leave them standing helpless in the face of change. – GEORGE REISMAN
Every so often, without fail, the Republicans remind me why I don't join the party. A recovering drug and alcohol abuser, living in the streets, recently told me the following story. One day, in desperate need of money, he went to the owner of a convenience store. The...