Price Controls Quotes & Sayings

I have stood in a department store, and seen something written on a price tag that told me I had to leave at once, but in different clothing. — Lemony Snicket

Many have blamed the gasoline shortages and long lines at filling stations in 1973 on the Arab Oil embargo of that year. However, the shortages and long lines began months before the Arab oil embargo, right after price controls were imposed. — Thomas Sowell

A state-based regulatory system is quite burdensome. It allows price controls to create market distortions. It can hinder development of national products and can directly impact the competitiveness of U.S. insurers. — Henry Paulson

I've come to the conclusion that the government needs to impose price controls on tuition increases - and so, I think, has President Obama. — Timothy Noah

Explosion of positive rights started in 1932 with the election of Roosevelt. — P. J. O'Rourke

In 302, the Roman emperor Diocletian commanded "there should be cheapness," declaring, "Unprincipled greed appears wherever our armies ... march ... Our law shall fix a measure and a limit to this greed." The predictable result of Diocletian's food price controls were black markets, hunger and food confiscation by his soldiers. Despite the disastrous history of price controls, politicians never manage to resist tampering with prices
that's not a flattering observation of their learning abilities. — Walter E. Williams

When I sing, trouble can sit right on my shoulder and I don't even notice. — Sarah Vaughan

You always want to keep your look clean and elegant, but you don't have to do the safe black-dress route. Have some fun! Wear something colorful with a hint of sparkle. — Mindy Kaling

Say that Congress legislates gasoline price controls that sets a maximum price of $1 a gallon. As sure as night follows day, there'd be long lines and gasoline shortages, just as there were in the 1970s. For the average consumer, a $1.60 a gallon selling price and no waiting lines is a darn sight cheaper than a controlled $1 a gallon price plus searching for a gasoline station that has gas and then waiting in line. If your average purchase is 10 gallons, and if an hour or so of your time is worth more that $6, the $1.60 a gallon free market price is cheaper. — Walter E. Williams

The combination of internal controls and international protectionism gave India a distorted economy, underproductive and grossly inefficient, making too few goods, of too low a quality, at too high a price. The resultant stagnation led to snide comments about what Indian economist Raj Krishna called the "Hindu rate of growth," which averaged some 3.5 percent in the first three decades after independence (or, to be more exact, between 1950 and 1980) when other countries in Southeast Asia were growing at 8 to 15 percent or even more. — Shashi Tharoor

Much of American wealth is an illusion which is being secretly gnawed away and much of it will be completely wiped out in the near future ... So what is the rest of your future? A grisly list of unpleasant events
exploding inflation, price controls, erosion of your savings (eventually to nothing), a collapse of private as well as government pension programs, and eventually an international monetary holocaust which will sweep all paper currencies down the drain and turn the world upside down. — Howard Ruff

I'm sorry I ruined your homecoming."
He kissed me once more and then shook his head. "The only thing that could ruin this is not being with you. — Markelle Grabo

Four things have almost invariably followed the imposition of controls to keep prices below the level they would reach under supply and demand in a free market: (1) increased use of the product or service whose price is controlled, (2) Reduced supply of the same product or service, (3) quality deterioration, (4) black markets. — Thomas Sowell

When you ignore what people are saying on a daily basis, calling for the annihilation of your country, you are ignoring them at your own risk. — Caroline Glick

As president, Nixon imposed wage and price controls, created the Environmental Protection Agency, initiated race-based hiring schemes, signed SALT I with the Soviets and instituted rapprochement with the Red Chinese. All of this resulted in liberals ... despising him even more! — Ann Coulter

[Professional politicians] don't mind if price controls cause shortages of health care. In fact, they welcome the prospect, because then they can impose rationing; they can impose priorities, and tell everyone how much of what kind of medical care they can have. And besides, ... there's that deeply satisfying rush of power. — Murray Rothbard

In an exchange economy everybody's money income is somebody else's cost. Every increase in hourly wages, unless or until compensated by an equal increase in hourly productivity, is an increase in costs of production. An increase in costs of production, where the government controls prices and forbids any price increase, takes the profit from marginal producers, forces them out of business, means a shrinkage in production and a growth in unemployment. Even where a price increase is possible, the higher price discourages buyers, shrinks the market, and also leads to unemployment. If a 30 percent increase in hourly wages all around the circle forces a 30 percent increase in prices, labor can buy no more of the product than it could at the beginning; and the merry-go-round must start all over again. — Henry Hazlitt

As recently as the early 1970s, a Republican president - Richard Nixon - was willing to impose wage and price controls to rescue the U.S. economy from crisis, popularizing the notion that "We are all Keynesians now." But by the 1980s, the battle of ideas waged out of the same Washington think tanks that now deny climate change had successfully managed to equate the very idea of industrial planning with Stalin's five-year plans. Real capitalists don't plan, these ideological warriors insisted - they unleash the power of the profit motive and let the market, in its infinite wisdom, create the best possible society for all. — Naomi Klein

I was in charge of price controls in World War II and had a ceiling on overall prices. Everybody who was subject to general maximum price regulation wanted an exception and went to Congress to persuade a Congressman, or a group of people on the Hill, that I was being a menace to their industry. — John Kenneth Galbraith

Sellers in general maintain the quality of their products and services for fear of losing customers otherwise. But, when price controls create a situation where the amount demanded is greater than the amount supplied - a shortage - fear of losing customers is no longer as strong an incentive. For example, landlords typically reduce painting and repairs when there is rent control, because there is no need to fear vacancies when there are more tenants looking for apartments than there are apartments available. — Thomas Sowell

We will continue to ignore political and economic forecasts, which are an expensive distraction for many investors and businessmen. Thirty years ago, no one could have foreseen the huge expansion of the Vietnam War, wage and price controls, two oil shocks, the resignation of a president, the dissolution of the Soviet Union, a one-day drop in the Dow of 508 points, or treasury bill yields fluctuating between 2.8% and 17.4%. — Warren Buffett

I'd say, Jesus wept cause he's trapped in there with missus, like us. — Sue Monk Kidd

You know, I've got experiences going back to the wage price controls in the Nixon administration where, in effect, we had what I think was a terrible mistake, in that case a Republican administration, where moved in and tried to control the wages, prices and profits of every enterprise in America. It was a huge mistake. — Dick Cheney

The stagflation of the 1970s blessed us with damaging wage and price controls and the utterly counterintuitive supply-side notion - famously drawn on a napkin - that cutting taxes would lead to higher tax revenues. — Steven Rattner

OPEC stopped exporting oil in early November, the Canadians followed suit a couple of weeks later, and that was it. The Department of Energy opened the Strategic Petroleum Reserve on January 15, along with strictly enforced price controls, and everybody had gas for about nine days, and then they didn't anymore. — Ben H. Winters

At the end of World War II, we had wage and price controls. Under wartime inflationary conditions, many employers found it difficult to recruit employees. To get around the limitations of wage control, many began to offer health care as a fringe benefit to attract workers. As a new benefit, it took some years for the Internal Revenue Service to get around to requiring the cost of the medical care to be included in the reported taxable income of the employees. By the time it did, workers had come to regard nontaxable medical care provided by the employer as a right - or should I say entitlement? They raised such a big political fuss that Congress legislated nontaxable status for employer-provided medical care. — Milton Friedman

One of my most vivid memories from 1974 was the gas station at the foot of the hill below my Southern California high school - car lines snaking out into the street, heralding the failure of the government's price controls and lame ideas such as odd-even rationing. — Nina Easton