Status Updates From Basic Economics: A Common S...
Basic Economics: A Common Sense Guide to the Economy by
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Heather Gorsett
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Chapter 3: Price Controls. Price controls sound fair—but history shows the real cost. Ceilings spark shortages, hoarding, and black markets; floors create wasted surpluses and inflated prices. From 16th-century Antwerp to modern Zimbabwe, interfering with prices misallocates resources, hurts the vulnerable, and fuels political favoritism.
— Jan 08, 2026 12:10PM
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