Thinks 64

Exploring Deeply the Economics of Price Controls: by Donald Boudreaux. “Governments are fond of dictating maximum prices and minimum wages. To the economically ignorant, these policies appear humane and worthwhile. But when examined through the lens of economics, these policies are clearly revealed to be harmful to the very persons they are ostensibly meant to help. Under no plausible real-world circumstances would such controls be economically justified.”

The Unbearable Stupidity of Controlling Prices: Atanu Dey in 2014. “At the core of most human misery inflicted on humans by humans lies the insidious evil of hubris fed by ignorance and nurtured by stupidity. The hubris arises out of the drive to control others, to make others do one’s bidding. Ignorance of simple truths about the nature of reality makes their intervention harmful even if you grant that perhaps they don’t intend harm. Stupidity is alas a common affliction that no one — without exception — is immune from. All of us labor under the combined burden of hubris, ignorance and stupidity to some degree or the other but most of us don’t have the power to interfere in the fates of millions. But the politicians and bureaucrats do.”

Julian Simon’s worldview: ” It was Simon who recognized energy as “the master resource” and identified human ingenuity as the “ultimate resource” behind, among many other things, expanding mineral energies.”


Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.