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Reply #31: Its a basic rule of economics [View All]

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creeksneakers2 Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Mar-01-09 07:34 AM
Response to Reply #18
31. Its a basic rule of economics
that price caps cause at least some shortages, unless the price cap is higher than any price being asked. If I set the price of milk at $6 a gallon, all those people who pay over $6 a gallon for milk, like those in super expensive geographical areas, will go without milk.

If the price caps were taken off rice, the Venezuelan plants would go back to full operational capacity. Taking over the factories is just one more step down the road to Mugabe economics.
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