Tag: Economics

1447: Bob Murphy – Rent Control Creates Slumlords

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W1447: Bob Murphy - Rent Control Creates Slumlords — If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down. —Robert P. Murphy

If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down. —Robert P. Murphy

If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down. —Robert P. Murphy

If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down. —Robert P. Murphy — If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down.

Under rent control, there are no market penalties for shoddy service because there is a long line of potential tenants. Thus rent control does not eliminate but rather creates “slumlords” who in a market system would have to compete to attract and retain tenants.

—Robert P. Murphy

If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down. —Robert P. Murphy — If landlords can’t charge a market rate, they’ll cut corners to maintain profitability. Because rent controls encourage landlords to reduce their maintenance expenses, apartments in rent controlled areas aren’t painted as often, repairs aren’t made as quickly, graffiti doesn’t get erased as quickly, and the washer/dryers in the basement don’t get replaced when they break down.

Under rent control, there are no market penalties for shoddy service because there is a long line of potential tenants. Thus rent control does not eliminate but rather creates “slumlords” who in a market system would have to compete to attract and retain tenants.

—Robert P. Murphy

Tags American libertarians, American writers, Apartment, Austrian economists, Economics, Economy, Free Market, Regulations, Rent control, Robert P. Murphy
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1442: Ron Paul – The Most Evil of All Taxes

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W1442: Ron Paul - The Most Evil of All Taxes — The most sinister of all taxes is inflation. When you create money out of thin air to pay the bills, the value of the dollar goes down, and the poor and the middle class get hit with a higher cost of living. It is the most evil of all taxes. —Ron Paul

The most sinister of all taxes is inflation. When you create money out of thin air to pay the bills, the value of the dollar goes down, and the poor and the middle class get hit with a higher cost of living. It is the most evil of all taxes. —Ron Paul

The most sinister of all taxes is inflation. When you create money out of thin air to pay the bills, the value of the dollar goes down, and the poor and the middle class get hit with a higher cost of living. It is the most evil of all taxes. —Ron Paul

The most sinister of all taxes is inflation. When you create money out of thin air to pay the bills, the value of the dollar goes down, and the poor and the middle class get hit with a higher cost of living. It is the most evil of all taxes. —Ron Paul

The most sinister of all taxes is inflation. When you create money out of thin air to pay the bills, the value of the dollar goes down, and the poor and the middle class get hit with a higher cost of living. It is the most evil of all taxes. —Ron Paul

Tags Economics, Economy, Evil, Inflation, Money, Poverty, Property tax, Ron Paul, Taxes
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1441: Thomas Sowell – The Major Flaw in Politics

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W1441: Thomas Sowell - The Major Flaw in Politics — One of the big differences between economics and politics is that politicians are not forced to pay attention to future consequences that lie beyond the next election. An elected official whose policies keep the public happy up through election day stands a good chance of being voted another term in office, even if those policies will have ruinous consequences in later years. There is no “present value” to make political decision-makers today take future consequences into account, when those consequences will come after election day. —Thomas Sowell

One of the big differences between economics and politics is that politicians are not forced to pay attention to future consequences that lie beyond the next election. An elected official whose policies keep the public happy up through election day stands a good chance of being voted another term in office, even if those policies will have ruinous consequences in later years. There is no “present value” to make political decision-makers today take future consequences into account, when those consequences will come after election day. —Thomas Sowell

One of the big differences between economics and politics is that politicians are not forced to pay attention to future consequences that lie beyond the next election. An elected official whose policies keep the public happy up through election day stands a good chance of being voted another term in office, even if those policies will have ruinous consequences in later years. There is no “present value” to make political decision-makers today take future consequences into account, when those consequences will come after election day. —Thomas Sowell

One of the big differences between economics and politics is that politicians are not forced to pay attention to future consequences that lie beyond the next election. An elected official whose policies keep the public happy up through election day stands a good chance of being voted another term in office, even if those policies will have ruinous consequences in later years. There is no “present value” to make political decision-makers today take future consequences into account, when those consequences will come after election day. —Thomas Sowell

One of the big differences between economics and politics is that politicians are not forced to pay attention to future consequences that lie beyond the next election. An elected official whose policies keep the public happy up through election day stands a good chance of being voted another term in office, even if those policies will have ruinous consequences in later years. There is no “present value” to make political decision-makers today take future consequences into account, when those consequences will come after election day. —Thomas Sowell

1424: Antony Davies – About Unintended Consequences

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W1424: Antony Davies - About Unintended Consequences — The thing about unintended consequences is it doesn't matter whether your intent is good, it doesn't matter whether the regulation that you're imposing is well thought out, it doesn't matter whether lots of people are in favor of the regulation. It is the fact that the coercion takes away from people their abilities to make decisions for themselves that causes the unintended consequence. —Antony Davies

The thing about unintended consequences is it doesn't matter whether your intent is good, it doesn't matter whether the regulation that you're imposing is well thought out, it doesn't matter whether lots of people are in favor of the regulation. It is the fact that the coercion takes away from people their abilities to make decisions for themselves that causes the unintended consequence. —Antony Davies

The thing about unintended consequences is it doesn't matter whether your intent is good, it doesn't matter whether the regulation that you're imposing is well thought out, it doesn't matter whether lots of people are in favor of the regulation. It is the fact that the coercion takes away from people their abilities to make decisions for themselves that causes the unintended consequence. —Antony Davies

The thing about unintended consequences is it doesn't matter whether your intent is good, it doesn't matter whether the regulation that you're imposing is well thought out, it doesn't matter whether lots of people are in favor of the regulation. It is the fact that the coercion takes away from people their abilities to make decisions for themselves that causes the unintended consequence. —Antony Davies — The thing about unintended consequences is it doesn’t matter whether your intent is good, it doesn’t matter whether the regulation that you’re imposing is well thought out, it doesn’t matter whether lots of people are in favor of the regulation. It is the fact that the coercion takes away from people their abilities to make decisions for themselves that causes the unintended consequence. —Antony Davies

The thing about unintended consequences is it doesn't matter whether your intent is good, it doesn't matter whether the regulation that you're imposing is well thought out, it doesn't matter whether lots of people are in favor of the regulation. It is the fact that the coercion takes away from people their abilities to make decisions for themselves that causes the unintended consequence. —Antony Davies — The thing about unintended consequences is it doesn’t matter whether your intent is good, it doesn’t matter whether the regulation that you’re imposing is well thought out, it doesn’t matter whether lots of people are in favor of the regulation. It is the fact that the coercion takes away from people their abilities to make decisions for themselves that causes the unintended consequence. —Antony Davies

1422: Jessica Sentman – The Rising Cost of Gas

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W1422: Jessica Sentman – The Rising Cost of Gas — The rising cost of gas is not isolated to a single president or party; it's a system of abuse, a deep con, and fraud. Both major parties play on your ignorance of economics that protect the scam and fuel useless infighting. — Jessica Leigh Sentman

The rising cost of gas is not isolated to a single president or party; it's a system of abuse, a deep con, and fraud. Both major parties play on your ignorance of economics that protect the scam and fuel useless infighting. — Jessica Leigh Sentman

The rising cost of gas is not isolated to a single president or party; it's a system of abuse, a deep con, and fraud. Both major parties play on your ignorance of economics that protect the scam and fuel useless infighting. — Jessica Leigh Sentman

The rising cost of gas is not isolated to a single president or party; it's a system of abuse, a deep con, and fraud. Both major parties play on your ignorance of economics that protect the scam and fuel useless infighting. — Jessica Leigh Sentman — The rising cost of gas is not isolated to a single president or party; it’s a system of abuse, a deep con, and fraud. Both major parties play on your ignorance of economics that protect the scam and fuel useless infighting. — Jessica Leigh Sentman

The rising cost of gas is not isolated to a single president or party; it's a system of abuse, a deep con, and fraud. Both major parties play on your ignorance of economics that protect the scam and fuel useless infighting. — Jessica Leigh Sentman — The rising cost of gas is not isolated to a single president or party; it’s a system of abuse, a deep con, and fraud. Both major parties play on your ignorance of economics that protect the scam and fuel useless infighting. — Jessica Leigh Sentman

1402: Hannah Cox – Learn Economics

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W1402: Hannah Cox - Learn Economics — If you haven't taken the time to learn econ and ensure your ideas don't hurt people, you can't claim to care about them. —Hannah Cox

If you haven't taken the time to learn econ and ensure your ideas don't hurt people, you can't claim to care about them. —Hannah Cox

If you haven't taken the time to learn econ and ensure your ideas don't hurt people, you can't claim to care about them. —Hannah Cox

If you haven't taken the time to learn econ and ensure your ideas don't hurt people, you can't claim to care about them. —Hannah Cox — If you haven’t taken the time to learn econ and ensure your ideas don’t hurt people, you can’t claim to care about them. —Hannah Cox

If you haven't taken the time to learn econ and ensure your ideas don't hurt people, you can't claim to care about them. —Hannah Cox — If you haven’t taken the time to learn econ and ensure your ideas don’t hurt people, you can’t claim to care about them. —Hannah Cox

1399: Walter Block – The Cause of Traffic Accidents is Government

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W1399: Walter Block - The Cause of Traffic Accidents is Government — Do not be mislead by the oft made contention that the actual cause of highway fatalities is speed, drunkenness, vehicle malfunction, driver error, etc. These are only proximate causes. The ultimate cause of our dying like flies in traffic accidents is that those who own and manage these assets supposedly in the name of the public—the various roads bureaucrats—cannot manage their way out of the proverbial paper bag. It is they and they alone who are responsible for this carnage.

Do not be mislead by the oft made contention that the actual cause of highway fatalities is speed, drunkenness, vehicle malfunction, driver error, etc. These are only proximate causes. The ultimate cause of our dying like flies in traffic accidents is that those who own and manage these assets supposedly in the name of the public—the various roads bureaucrats—cannot manage their way out of the proverbial paper bag. It is they and they alone who are responsible for this carnage.

Do not be mislead by the oft made contention that the actual cause of highway fatalities is speed, drunkenness, vehicle malfunction, driver error, etc. These are only proximate causes. The ultimate cause of our dying like flies in traffic accidents is that those who own and manage these assets supposedly in the name of the public—the various roads bureaucrats—cannot manage their way out of the proverbial paper bag. It is they and they alone who are responsible for this carnage.

Do not be mislead by the oft made contention that the actual cause of highway fatalities is speed, drunkenness, vehicle malfunction, driver error, etc. These are only proximate causes. The ultimate cause of our dying like flies in traffic accidents is that those who own and manage these assets supposedly in the name of the public—the various roads bureaucrats—cannot manage their way out of the proverbial paper bag. It is they and they alone who are responsible for this carnage. — Over 40,000 people die on the nation’s roadways every year, and you or a loved one might one day join this horrid list.

Do not be mislead by the oft made contention that the actual cause of highway fatalities is speed, drunkenness, vehicle malfunction, driver error, etc. These are only proximate causes. The ultimate cause of our dying like flies in traffic accidents is that those who own and manage these assets supposedly in the name of the public—the various roads bureaucrats—cannot manage their way out of the proverbial paper bag. It is they and they alone who are responsible for this carnage.

This does not mean that were thoroughfares placed in private hands that the death toll would be zero. It would not. But, at least, every time the life of someone was tragically snuffed out, someone in a position to ameliorate these dangerous conditions would lose money, and this tends, wonderfully, to focus the minds of the owners. This is why we do not have similar problems with bananas, baskets, and bicycles, and the myriad of other goods and services supplied to us by a (relatively) free enterprise system.

—Walter Block

Do not be mislead by the oft made contention that the actual cause of highway fatalities is speed, drunkenness, vehicle malfunction, driver error, etc. These are only proximate causes. The ultimate cause of our dying like flies in traffic accidents is that those who own and manage these assets supposedly in the name of the public—the various roads bureaucrats—cannot manage their way out of the proverbial paper bag. It is they and they alone who are responsible for this carnage. — Over 40,000 people die on the nation’s roadways every year, and you or a loved one might one day join this horrid list.

Do not be mislead by the oft made contention that the actual cause of highway fatalities is speed, drunkenness, vehicle malfunction, driver error, etc. These are only proximate causes. The ultimate cause of our dying like flies in traffic accidents is that those who own and manage these assets supposedly in the name of the public—the various roads bureaucrats—cannot manage their way out of the proverbial paper bag. It is they and they alone who are responsible for this carnage.

This does not mean that were thoroughfares placed in private hands that the death toll would be zero. It would not. But, at least, every time the life of someone was tragically snuffed out, someone in a position to ameliorate these dangerous conditions would lose money, and this tends, wonderfully, to focus the minds of the owners. This is why we do not have similar problems with bananas, baskets, and bicycles, and the myriad of other goods and services supplied to us by a (relatively) free enterprise system.

—Walter Block

1378: Thomas Sowell – Government Planning

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W1378: Thomas Sowell – Government Planning — “Planning” in political rhetoric is the government’s suppression of other people’s plans by superimposing on them a collective plan, created by third parties, armed with the power of government and exempted from paying the costs that these collective plans impose on others. —Thomas Sowell

“Planning” in political rhetoric is the government’s suppression of other people’s plans by superimposing on them a collective plan, created by third parties, armed with the power of government and exempted from paying the costs that these collective plans impose on others. —Thomas Sowell

“Planning” in political rhetoric is the government’s suppression of other people’s plans by superimposing on them a collective plan, created by third parties, armed with the power of government and exempted from paying the costs that these collective plans impose on others. —Thomas Sowell

“Planning” in political rhetoric is the government’s suppression of other people’s plans by superimposing on them a collective plan, created by third parties, armed with the power of government and exempted from paying the costs that these collective plans impose on others. —Thomas Sowell

“Planning” in political rhetoric is the government’s suppression of other people’s plans by superimposing on them a collective plan, created by third parties, armed with the power of government and exempted from paying the costs that these collective plans impose on others. —Thomas Sowell

1377: Thomas Sowell – Unaffordable Housing

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W1377: Thomas Sowell – Unaffordable Housing — San Francisco Bay Area has one of the most expensive housing markets in the nation. However, as recently as 1970, Bay Area housing was affordable. Data from the 1970 census shows that a Bay Area family could dedicate 25% to housing and pay off their mortgage in just 13 years. By 1980, a family had to spend 40% of their income to pay off a home mortgage in 30 years; today, it requires 50%. It is precisely government intervention in housing markets which has made previously affordable housing unaffordable. Both the history and the economics of housing show this. —Thomas Sowell

San Francisco Bay Area has one of the most expensive housing markets in the nation. However, as recently as 1970, Bay Area housing was affordable.
Data from the 1970 census shows that a Bay Area family could dedicate 25% to housing and pay off their mortgage in just 13 years. By 1980, a family had to spend 40% of their income to pay off a home mortgage in 30 years; today, it requires 50%. It is precisely government intervention in housing markets which has made previously affordable housing unaffordable. Both the history and the economics of housing show this. —Thomas Sowell

San Francisco Bay Area has one of the most expensive housing markets in the nation. However, as recently as 1970, Bay Area housing was affordable.
Data from the 1970 census shows that a Bay Area family could dedicate 25% to housing and pay off their mortgage in just 13 years. By 1980, a family had to spend 40% of their income to pay off a home mortgage in 30 years; today, it requires 50%. It is precisely government intervention in housing markets which has made previously affordable housing unaffordable. Both the history and the economics of housing show this. —Thomas Sowell

San Francisco Bay Area has one of the most expensive housing markets in the nation. However, as recently as 1970, Bay Area housing was affordable. Data from the 1970 census shows that a Bay Area family could dedicate 25% to housing and pay off their mortgage in just 13 years. By 1980, a family had to spend 40% of their income to pay off a home mortgage in 30 years; today, it requires 50%. It is precisely government intervention in housing markets which has made previously affordable housing unaffordable. Both the history and the economics of housing show this. —Thomas Sowell — San Francisco Bay Area has one of the most expensive housing markets in the nation. However, as recently as 1970, Bay Area housing was affordable.
Data from the 1970 census shows that a Bay Area family could dedicate 25% to housing and pay off their mortgage in just 13 years. By 1980, a family had to spend 40% of their income to pay off a home mortgage in 30 years; today, it requires 50%. It is precisely government intervention in housing markets which has made previously affordable housing unaffordable. Both the history and the economics of housing show this. —Thomas Sowell

San Francisco Bay Area has one of the most expensive housing markets in the nation. However, as recently as 1970, Bay Area housing was affordable. Data from the 1970 census shows that a Bay Area family could dedicate 25% to housing and pay off their mortgage in just 13 years. By 1980, a family had to spend 40% of their income to pay off a home mortgage in 30 years; today, it requires 50%. It is precisely government intervention in housing markets which has made previously affordable housing unaffordable. Both the history and the economics of housing show this. —Thomas Sowell — San Francisco Bay Area has one of the most expensive housing markets in the nation. However, as recently as 1970, Bay Area housing was affordable.
Data from the 1970 census shows that a Bay Area family could dedicate 25% to housing and pay off their mortgage in just 13 years. By 1980, a family had to spend 40% of their income to pay off a home mortgage in 30 years; today, it requires 50%. It is precisely government intervention in housing markets which has made previously affordable housing unaffordable. Both the history and the economics of housing show this. —Thomas Sowell

1376: Thomas Sowell – Rent Control Laws

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W1376: Thomas Sowell – Rent Control Laws — In Australia, not a single apartment building was built in Melbourne for years after World War II because of rent control laws. In a number of Massachusetts communities, no rental housing was built for a quarter of a century, until the state banned local rent control laws, after which building resumed. The lower rate of return on investments in new buildings causes fewer of them to be built. —Thomas Sowell

In Australia, not a single apartment building was built in Melbourne for years after World War II because of rent control laws. In a number of Massachusetts communities, no rental housing was built for a quarter of a century, until the state banned local rent control laws, after which building resumed. The lower rate of return on investments in new buildings causes fewer of them to be built. —Thomas Sowell

In Australia, not a single apartment building was built in Melbourne for years after World War II because of rent control laws. In a number of Massachusetts communities, no rental housing was built for a quarter of a century, until the state banned local rent control laws, after which building resumed. The lower rate of return on investments in new buildings causes fewer of them to be built. —Thomas Sowell

In Australia, not a single apartment building was built in Melbourne for years after World War II because of rent control laws. In a number of Massachusetts communities, no rental housing was built for a quarter of a century, until the state banned local rent control laws, after which building resumed. The lower rate of return on investments in new buildings causes fewer of them to be built. —Thomas Sowell

In Australia, not a single apartment building was built in Melbourne for years after World War II because of rent control laws. In a number of Massachusetts communities, no rental housing was built for a quarter of a century, until the state banned local rent control laws, after which building resumed. The lower rate of return on investments in new buildings causes fewer of them to be built. —Thomas Sowell