Forty centuries of wage and price controls
by Robert Lindsay Schuettinger, Eamonn Butler · first published 1979
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…economics textbooks. There is a four-thousand-year historical record of economic catastrophe after catastrophe caused by price controls. This record is partly documented in an excellent book entitled Forty Centuries of Wage and Price Controls by Robert Schuettinger and Eamon Butler, first published in 1979.
on “Trump Signs Executive Order Compelling Disclosure of Prices in Health Care” ↗You can read Forty Centuries of Wage and Price Controls by Robert Schuettinger and Eamon Butler, first published in 1979. The case against price controls is not merely an academic exercise, restricted to economics textbooks. There is a four-thousand-year historical…
on “Trump Signs Executive Order Compelling Disclosure of Prices in Health Care” ↗There's a book entitled "Forty Centuries of Wage and Price Controls" by Robert L. Schuettinger that ought to be required reading for anyone who thinks that either price controls are a new idea or that this time they'll work.
on “Should the United States Declare Books an ‘Essential Good’?” ↗Anyone interested in the history of these sorts of things should be familiar with: "Forty Centuries of Wage and Price Controls: How Not to Fight Inflation" by Robert Schuettinger
> we've come a long way See "Forty Centuries of Wage and Price Controls" which shows that humans are very slow learners. https://www.amazon.com/Forty-Centuries-Wage-Price-Controls/d...
on “Ancient Tablets Show Markets Worked 4k Years Before Economists Explained Them” ↗> a big fan of rent control as a general concept Government price controls have a 4000 year history of miserable failure. See "Forty Centuries of Wage and Price Controls."
on “A New Real-Estate War in Silicon Valley” ↗…history of creating shortages or long queues wherever they've been tried. The only way to bring down prices is to remove barriers to supply, such as excessive regulation, and to encourage investment. Forty Centuries of Wage and Price Controls: How Not to Fight Inflation [0] tracks the history of wage & price controls from Hammurabi's Babylon, Diocletian's Rome, Ancient Egypt, and down to modern-day examples. The book has dozens (if I remember…
on “Companies in Apple’s repair program say they can’t compete with tech giant” ↗