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How to Wreck an Economy

John Keller
The LRC Blog [1]
February 12, 2013

The junta called the government of Argentina has announced that business owners do not REALLY own their goods, and may not sell them for whatever price they wish. Price controls are now in effect to curb inflation [2], at least that’s the official line. A mere 6 years ago this same government edict failed and lead to the entirely predictable shortages [3] that always follow price controls. Any bets on how long it will take for shortages to be reported this time? Price controls are immoral for so many reasons:

And the list goes on. Of all government’s sins save war and pogroms, price controls must be the worst. With official inflation at 10%, and unofficial inflation closer to 30% I expect the shortages to occur almost immediately. The protests will start right after that.