Taking Shelter Under the Price Ceiling

For decades, American governments that were far from socialist embraced extensive use of price controls during times of inflation.

For a century prior to Ronald Reagan’s presidency, price controls were a part of the political mainstream. At certain times, they were applied to specific goods, and at others — namely during wars — they were imposed on just about everything. 1876 Some of the earliest price controls were implemented at the behest of populist farmers being squeezed by […]

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