-
Price Controls, Subsidies, and the Risks of Good Intentions: Crash Course Economics #20
So, during times of inflation or deflation, why doesn't the government just set prices? It sounds reasonable, but price ceilings or floors just don't work. Adriene and Jacob explain why. Subsidies, however, are a little different, and sometimes they even work. We'll also explain that. Today you'll learn about stuff like price controls, deadweight loss, subsidies, and efficiency.
Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse
Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever:
Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Sc...
published: 13 Jan 2016
-
Price Ceilings and Floors- Micro Topic 2.8
New video for this topic: https://youtu.be/eE_FYK2FlnQ
In this video I explain what happens when the government controls market prices. Price ceilings are a legal maximum price and price floors are a minimum legal price. Make sure that you can draw each of them on a demand and supply graph and identify if there is a shortage or a surplus. Keep in mind that your teacher may use the word "binding" to describe the situation where the price control has an effect on the market.
Need help? Check out the Ultimate Review Packet for FREE: https://www.acdcecon.com/review-packet
published: 27 Sep 2014
-
Y1 34) Price Controls (Minimum/Maximum Prices) and Market Failure
Y1 34) Price Controls (Minimum/Maximum Prices) and Market Failure. Everything you need regarding the use of Price Controls (Minimum/Maximum Prices) and Market Failure
Instagram: https://www.instagram.com/econplusdal
Twitter: https://twitter.com/econplusdal
Facebook: https://www.facebook.com/EconplusDal-1651992015061685/?ref=aymt_homepage_panel
published: 23 May 2018
-
How price controls reallocate surplus | APⓇ Microeconomics | Khan Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-microeconomics/unit-2-supply-and-demnd/28/v/how-price-controls-reallocate-surplus
Price controls, like price ceilings and price floors, reallocate surplus. In this video, learn how to identify the areas representing reallocated surplus in a market graph.
AP(R) Microeconomics on Khan Academy: Microeconomics is the study of individual decisionmakers in an economy, such as people, households, and firms. Learn how markets work, how incentives drive decisionmaking, and how market structure influences market outcomes. We hit the traditional topics from an AP Microeconomics course, including basic economic concepts, markets, production and costs, ...
published: 05 Oct 2017
-
Price Controls: Still a Bad Idea | Intellections
The disruptive effects of inflation on people’s lives are not to be taken lightly, but responding with price controls fails to provide a long-term solution. The underlying principles driving the change in prices cannot be fixed by blaming corporations for higher costs. Previous efforts to use price controls resulted in shortages far more painful than the inflation they were meant to cure.
For more information, visit the PolicyEd page here: https://www.policyed.org/intellections/price-controls-still-bad-idea/video
Additional resources:
Read “Price Controls: Still a Bad Idea,” by David Henderson. Available here: https://www.hoover.org/research/price-controls-still-bad-idea.
Read “Inflation and Monetary Policy,” a Policy Insights edition on PolicyEd. Available here: https://www.policyed....
published: 20 Jul 2022
-
Price Ceiling and Price Floor | Think Econ
In this video we explain price ceilings and price floors. We go over what they look like on a graph, as well as an example of each!
Link to Shortage and Surplus video: https://www.youtube.com/watch?v=TSA1--F8jSc
#priceceiling #pricefloor #economics
Keywords:
price floor
Price floor and price ceiling
price floor graph
price floor example
price ceiling and price floor
price floor definition economics
binding price floor
price ceiling and price floor examples
price floor definition
price floors and ceiling prices both
price floor minimum wage
price floor and price ceiling
price floor and ceiling graph
price floor and price ceiling examples
price floor and deadweight loss
published: 23 Sep 2022
-
Milton Friedman on Price Controls and Barter
This clip is taken from the 1992 discussion "Money" featuring Dr. Friedman, Dr. Daniel Gressel and Dr. Robert Hall. To purchase the full discussion or others, visit Free To Choose Network's store: http://www.freetochoose.net/
Check out our Facebook page here: https://www.facebook.com/FreeToChooseNetwork
Visit our media website to find other programs here: http://freetochoosemedia.org/index.php
Connect with us on Twitter here: https://twitter.com/FreeToChooseNet
Learn more about our company here: http://freetochoosenetwork.org/
Shop for related products here: http://www.freetochoose.net/
Stream from FreeToChoose.TV here: http://freetochoose.tv/
published: 02 Nov 2011
-
Price Ceilings: The US Economy Flounders in the 1970s
In 1971, President Nixon, in an effort to control inflation, declared price increases illegal. Because prices couldn’t increase, they began hitting a ceiling. With a price ceiling, buyers are unable to signal their increased demand by bidding prices up, and suppliers have no incentive to increase quantity supplied because they can’t raise the price.
What results when the quantity demanded exceeds the quantity supplied? A shortage! In the 1970s, for example, buyers began to signal their demand for gasoline by waiting in long lines, if they even had access to gasoline at all. As you’ll recall from the previous section on the price system, prices help coordinate global economic activity. And with price controls in place, the economy became far less coordinated. Join us as we look at real-wor...
published: 26 Feb 2015
-
Thomas Sowell on How the Government Increases Cost Price with Price Control - Affordable Programs
How the Government Increases Cost Price with Price Control - Affordable Programs | Thomas Sowell
---
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1. Social Justice Fallacies: https://amzn.to/3Pcq8Go
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3. Basic Economics: https://amzn.to/48ekoVw
4. A Conflict of Visions: https://amzn.to/3Zhxn4L
5. Dismantling America: https://amzn.to/3POMXyS
6. Discrimination and Disparities: https://amzn.to/3Oxfqbj
7. Economic Facts and Fallacies: https://amzn.to/3RWYDl2
8. Knowledge And Decisions: https://amzn.to/3S9NihF
9. The Thomas Sowell Reader: https://amzn.to/3cqiMzp
10. Is Re...
published: 22 Aug 2022
-
Price Ceilings: Rent Controls
Rent controls are a type of price ceiling. We’ll use our diagram to show how rent controls create shortages by reducing the supply of apartments available on the market. Rent controls also result in reduced product quality, since they reduce the returns to landlords from renting apartments. Landlords respond by cutting costs or performing less maintenance, leading to lower quality. There are search costs associated with rent controls, and they also lead to a misallocation of resources since apartments are not allocated to renters who value them the most.
Try our price ceilings interactive practice: https://mru.io/u7y
Microeconomics Course: https://mru.io/zur
Next video: https://mru.io/a88
Help us caption & translate this video! http://amara.org/v/GLJ9/
00:00 Introduction
00:23 Rent C...
published: 26 Feb 2015
10:15
Price Controls, Subsidies, and the Risks of Good Intentions: Crash Course Economics #20
So, during times of inflation or deflation, why doesn't the government just set prices? It sounds reasonable, but price ceilings or floors just don't work. Adri...
So, during times of inflation or deflation, why doesn't the government just set prices? It sounds reasonable, but price ceilings or floors just don't work. Adriene and Jacob explain why. Subsidies, however, are a little different, and sometimes they even work. We'll also explain that. Today you'll learn about stuff like price controls, deadweight loss, subsidies, and efficiency.
Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse
Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever:
Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks
--
Want to find Crash Course elsewhere on the internet?
Facebook - http://www.facebook.com/YouTubeCrashCourse
Twitter - http://www.twitter.com/TheCrashCourse
Tumblr - http://thecrashcourse.tumblr.com
Support Crash Course on Patreon: http://patreon.com/crashcourse
CC Kids: http://www.youtube.com/crashcoursekids
https://wn.com/Price_Controls,_Subsidies,_And_The_Risks_Of_Good_Intentions_Crash_Course_Economics_20
So, during times of inflation or deflation, why doesn't the government just set prices? It sounds reasonable, but price ceilings or floors just don't work. Adriene and Jacob explain why. Subsidies, however, are a little different, and sometimes they even work. We'll also explain that. Today you'll learn about stuff like price controls, deadweight loss, subsidies, and efficiency.
Crash Course is on Patreon! You can support us directly by signing up at http://www.patreon.com/crashcourse
Thanks to the following Patrons for their generous monthly contributions that help keep Crash Course free for everyone forever:
Mark, Eric Kitchen, Jessica Wode, Jeffrey Thompson, Steve Marshall, Moritz Schmidt, Robert Kunz, Tim Curwick, Jason A Saslow, SR Foxley, Elliot Beter, Jacob Ash, Christian, Jan Schmid, Jirat, Christy Huddleston, Daniel Baulig, Chris Peters, Anna-Ester Volozh, Ian Dundore, Caleb Weeks
--
Want to find Crash Course elsewhere on the internet?
Facebook - http://www.facebook.com/YouTubeCrashCourse
Twitter - http://www.twitter.com/TheCrashCourse
Tumblr - http://thecrashcourse.tumblr.com
Support Crash Course on Patreon: http://patreon.com/crashcourse
CC Kids: http://www.youtube.com/crashcoursekids
- published: 13 Jan 2016
- views: 879173
4:34
Price Ceilings and Floors- Micro Topic 2.8
New video for this topic: https://youtu.be/eE_FYK2FlnQ
In this video I explain what happens when the government controls market prices. Price ceilings are a leg...
New video for this topic: https://youtu.be/eE_FYK2FlnQ
In this video I explain what happens when the government controls market prices. Price ceilings are a legal maximum price and price floors are a minimum legal price. Make sure that you can draw each of them on a demand and supply graph and identify if there is a shortage or a surplus. Keep in mind that your teacher may use the word "binding" to describe the situation where the price control has an effect on the market.
Need help? Check out the Ultimate Review Packet for FREE: https://www.acdcecon.com/review-packet
https://wn.com/Price_Ceilings_And_Floors_Micro_Topic_2.8
New video for this topic: https://youtu.be/eE_FYK2FlnQ
In this video I explain what happens when the government controls market prices. Price ceilings are a legal maximum price and price floors are a minimum legal price. Make sure that you can draw each of them on a demand and supply graph and identify if there is a shortage or a surplus. Keep in mind that your teacher may use the word "binding" to describe the situation where the price control has an effect on the market.
Need help? Check out the Ultimate Review Packet for FREE: https://www.acdcecon.com/review-packet
- published: 27 Sep 2014
- views: 1405064
7:37
Y1 34) Price Controls (Minimum/Maximum Prices) and Market Failure
Y1 34) Price Controls (Minimum/Maximum Prices) and Market Failure. Everything you need regarding the use of Price Controls (Minimum/Maximum Prices) and Market F...
Y1 34) Price Controls (Minimum/Maximum Prices) and Market Failure. Everything you need regarding the use of Price Controls (Minimum/Maximum Prices) and Market Failure
Instagram: https://www.instagram.com/econplusdal
Twitter: https://twitter.com/econplusdal
Facebook: https://www.facebook.com/EconplusDal-1651992015061685/?ref=aymt_homepage_panel
https://wn.com/Y1_34)_Price_Controls_(Minimum_Maximum_Prices)_And_Market_Failure
Y1 34) Price Controls (Minimum/Maximum Prices) and Market Failure. Everything you need regarding the use of Price Controls (Minimum/Maximum Prices) and Market Failure
Instagram: https://www.instagram.com/econplusdal
Twitter: https://twitter.com/econplusdal
Facebook: https://www.facebook.com/EconplusDal-1651992015061685/?ref=aymt_homepage_panel
- published: 23 May 2018
- views: 166788
8:43
How price controls reallocate surplus | APⓇ Microeconomics | Khan Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-microecono...
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-microeconomics/unit-2-supply-and-demnd/28/v/how-price-controls-reallocate-surplus
Price controls, like price ceilings and price floors, reallocate surplus. In this video, learn how to identify the areas representing reallocated surplus in a market graph.
AP(R) Microeconomics on Khan Academy: Microeconomics is the study of individual decisionmakers in an economy, such as people, households, and firms. Learn how markets work, how incentives drive decisionmaking, and how market structure influences market outcomes. We hit the traditional topics from an AP Microeconomics course, including basic economic concepts, markets, production and costs, profit maximization perfect competition, imperfectly competitive market structures, game theory, factor markets, and income inequality.
About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content.
For free. For everyone. Forever. #YouCanLearnAnything
https://www.youtube.com/subscription_center?add_user=khanacademy
https://wn.com/How_Price_Controls_Reallocate_Surplus_|_Apⓡ_Microeconomics_|_Khan_Academy
Courses on Khan Academy are always 100% free. Start practicing—and saving your progress—now: https://www.khanacademy.org/economics-finance-domain/ap-microeconomics/unit-2-supply-and-demnd/28/v/how-price-controls-reallocate-surplus
Price controls, like price ceilings and price floors, reallocate surplus. In this video, learn how to identify the areas representing reallocated surplus in a market graph.
AP(R) Microeconomics on Khan Academy: Microeconomics is the study of individual decisionmakers in an economy, such as people, households, and firms. Learn how markets work, how incentives drive decisionmaking, and how market structure influences market outcomes. We hit the traditional topics from an AP Microeconomics course, including basic economic concepts, markets, production and costs, profit maximization perfect competition, imperfectly competitive market structures, game theory, factor markets, and income inequality.
About Khan Academy: Khan Academy offers practice exercises, instructional videos, and a personalized learning dashboard that empower learners to study at their own pace in and outside of the classroom. We tackle math, science, computer programming, history, art history, economics, and more. Our math missions guide learners from kindergarten to calculus using state-of-the-art, adaptive technology that identifies strengths and learning gaps. We've also partnered with institutions like NASA, The Museum of Modern Art, The California Academy of Sciences, and MIT to offer specialized content.
For free. For everyone. Forever. #YouCanLearnAnything
https://www.youtube.com/subscription_center?add_user=khanacademy
- published: 05 Oct 2017
- views: 22661
1:38
Price Controls: Still a Bad Idea | Intellections
The disruptive effects of inflation on people’s lives are not to be taken lightly, but responding with price controls fails to provide a long-term solution. The...
The disruptive effects of inflation on people’s lives are not to be taken lightly, but responding with price controls fails to provide a long-term solution. The underlying principles driving the change in prices cannot be fixed by blaming corporations for higher costs. Previous efforts to use price controls resulted in shortages far more painful than the inflation they were meant to cure.
For more information, visit the PolicyEd page here: https://www.policyed.org/intellections/price-controls-still-bad-idea/video
Additional resources:
Read “Price Controls: Still a Bad Idea,” by David Henderson. Available here: https://www.hoover.org/research/price-controls-still-bad-idea.
Read “Inflation and Monetary Policy,” a Policy Insights edition on PolicyEd. Available here: https://www.policyed.org/policy-insights/inflation-and-monetary-policy.
Read “Inflation: What Next?” by David Henderson. Available here: https://www.hoover.org/research/inflation-what-next.
Watch “The Problem with Wage and Price Controls: Lessons from the 1970s,” on PolicyEd. Available here: https://www.policyed.org/unarchived/wage-and-price-controls/video.
Read “The Fed Replays History,” by Michael Bordo and Mickey Levy. Available here: https://www.hoover.org/research/fed-replays-history.
Visit https://www.policyed.org to learn more.
- Subscribe to PolicyEd’s YouTube channel: http://bit.ly/PolicyEdSub.
- Follow PolicyEd on Twitter: http://bit.ly/PolicyEdTwit.
- Follow PolicyEd on Instagram: http://bit.ly/PolicyEdInsta.
https://wn.com/Price_Controls_Still_A_Bad_Idea_|_Intellections
The disruptive effects of inflation on people’s lives are not to be taken lightly, but responding with price controls fails to provide a long-term solution. The underlying principles driving the change in prices cannot be fixed by blaming corporations for higher costs. Previous efforts to use price controls resulted in shortages far more painful than the inflation they were meant to cure.
For more information, visit the PolicyEd page here: https://www.policyed.org/intellections/price-controls-still-bad-idea/video
Additional resources:
Read “Price Controls: Still a Bad Idea,” by David Henderson. Available here: https://www.hoover.org/research/price-controls-still-bad-idea.
Read “Inflation and Monetary Policy,” a Policy Insights edition on PolicyEd. Available here: https://www.policyed.org/policy-insights/inflation-and-monetary-policy.
Read “Inflation: What Next?” by David Henderson. Available here: https://www.hoover.org/research/inflation-what-next.
Watch “The Problem with Wage and Price Controls: Lessons from the 1970s,” on PolicyEd. Available here: https://www.policyed.org/unarchived/wage-and-price-controls/video.
Read “The Fed Replays History,” by Michael Bordo and Mickey Levy. Available here: https://www.hoover.org/research/fed-replays-history.
Visit https://www.policyed.org to learn more.
- Subscribe to PolicyEd’s YouTube channel: http://bit.ly/PolicyEdSub.
- Follow PolicyEd on Twitter: http://bit.ly/PolicyEdTwit.
- Follow PolicyEd on Instagram: http://bit.ly/PolicyEdInsta.
- published: 20 Jul 2022
- views: 468848
4:06
Price Ceiling and Price Floor | Think Econ
In this video we explain price ceilings and price floors. We go over what they look like on a graph, as well as an example of each!
Link to Shortage and Surplu...
In this video we explain price ceilings and price floors. We go over what they look like on a graph, as well as an example of each!
Link to Shortage and Surplus video: https://www.youtube.com/watch?v=TSA1--F8jSc
#priceceiling #pricefloor #economics
Keywords:
price floor
Price floor and price ceiling
price floor graph
price floor example
price ceiling and price floor
price floor definition economics
binding price floor
price ceiling and price floor examples
price floor definition
price floors and ceiling prices both
price floor minimum wage
price floor and price ceiling
price floor and ceiling graph
price floor and price ceiling examples
price floor and deadweight loss
https://wn.com/Price_Ceiling_And_Price_Floor_|_Think_Econ
In this video we explain price ceilings and price floors. We go over what they look like on a graph, as well as an example of each!
Link to Shortage and Surplus video: https://www.youtube.com/watch?v=TSA1--F8jSc
#priceceiling #pricefloor #economics
Keywords:
price floor
Price floor and price ceiling
price floor graph
price floor example
price ceiling and price floor
price floor definition economics
binding price floor
price ceiling and price floor examples
price floor definition
price floors and ceiling prices both
price floor minimum wage
price floor and price ceiling
price floor and ceiling graph
price floor and price ceiling examples
price floor and deadweight loss
- published: 23 Sep 2022
- views: 127472
2:44
Milton Friedman on Price Controls and Barter
This clip is taken from the 1992 discussion "Money" featuring Dr. Friedman, Dr. Daniel Gressel and Dr. Robert Hall. To purchase the full discussion or others, ...
This clip is taken from the 1992 discussion "Money" featuring Dr. Friedman, Dr. Daniel Gressel and Dr. Robert Hall. To purchase the full discussion or others, visit Free To Choose Network's store: http://www.freetochoose.net/
Check out our Facebook page here: https://www.facebook.com/FreeToChooseNetwork
Visit our media website to find other programs here: http://freetochoosemedia.org/index.php
Connect with us on Twitter here: https://twitter.com/FreeToChooseNet
Learn more about our company here: http://freetochoosenetwork.org/
Shop for related products here: http://www.freetochoose.net/
Stream from FreeToChoose.TV here: http://freetochoose.tv/
https://wn.com/Milton_Friedman_On_Price_Controls_And_Barter
This clip is taken from the 1992 discussion "Money" featuring Dr. Friedman, Dr. Daniel Gressel and Dr. Robert Hall. To purchase the full discussion or others, visit Free To Choose Network's store: http://www.freetochoose.net/
Check out our Facebook page here: https://www.facebook.com/FreeToChooseNetwork
Visit our media website to find other programs here: http://freetochoosemedia.org/index.php
Connect with us on Twitter here: https://twitter.com/FreeToChooseNet
Learn more about our company here: http://freetochoosenetwork.org/
Shop for related products here: http://www.freetochoose.net/
Stream from FreeToChoose.TV here: http://freetochoose.tv/
- published: 02 Nov 2011
- views: 11552
3:50
Price Ceilings: The US Economy Flounders in the 1970s
In 1971, President Nixon, in an effort to control inflation, declared price increases illegal. Because prices couldn’t increase, they began hitting a ceiling. W...
In 1971, President Nixon, in an effort to control inflation, declared price increases illegal. Because prices couldn’t increase, they began hitting a ceiling. With a price ceiling, buyers are unable to signal their increased demand by bidding prices up, and suppliers have no incentive to increase quantity supplied because they can’t raise the price.
What results when the quantity demanded exceeds the quantity supplied? A shortage! In the 1970s, for example, buyers began to signal their demand for gasoline by waiting in long lines, if they even had access to gasoline at all. As you’ll recall from the previous section on the price system, prices help coordinate global economic activity. And with price controls in place, the economy became far less coordinated. Join us as we look at real-world examples of price controls and the grave effects these regulations have on trade and industry.
Try our price ceilings interactive practice: https://mru.io/7cz
Microeconomics Course: https://mru.io/g7s
Next video: https://mru.io/isg
Help us caption & translate this video! http://amara.org/v/GLNR/
00:00 August 1971: Nixon declares all price increases illegal
01:01 Gas price ceilings – paying with time instead of money
01:49 Price system fails – unintended consequences nationwide
03:01 Unintended consequences for chickens
https://wn.com/Price_Ceilings_The_US_Economy_Flounders_In_The_1970S
In 1971, President Nixon, in an effort to control inflation, declared price increases illegal. Because prices couldn’t increase, they began hitting a ceiling. With a price ceiling, buyers are unable to signal their increased demand by bidding prices up, and suppliers have no incentive to increase quantity supplied because they can’t raise the price.
What results when the quantity demanded exceeds the quantity supplied? A shortage! In the 1970s, for example, buyers began to signal their demand for gasoline by waiting in long lines, if they even had access to gasoline at all. As you’ll recall from the previous section on the price system, prices help coordinate global economic activity. And with price controls in place, the economy became far less coordinated. Join us as we look at real-world examples of price controls and the grave effects these regulations have on trade and industry.
Try our price ceilings interactive practice: https://mru.io/7cz
Microeconomics Course: https://mru.io/g7s
Next video: https://mru.io/isg
Help us caption & translate this video! http://amara.org/v/GLNR/
00:00 August 1971: Nixon declares all price increases illegal
01:01 Gas price ceilings – paying with time instead of money
01:49 Price system fails – unintended consequences nationwide
03:01 Unintended consequences for chickens
- published: 26 Feb 2015
- views: 416611
5:44
Thomas Sowell on How the Government Increases Cost Price with Price Control - Affordable Programs
How the Government Increases Cost Price with Price Control - Affordable Programs | Thomas Sowell
---
👉 Join this channel to get access to perks:
https://www.you...
How the Government Increases Cost Price with Price Control - Affordable Programs | Thomas Sowell
---
👉 Join this channel to get access to perks:
https://www.youtube.com/channel/UCflhc3xU5ZSx_7_vzdb69gA/join
👉Join our exclusive Telegram channel here: https://t.me/tsowell
---
Get Thomas Sowell's Latest Book here:
1. Social Justice Fallacies: https://amzn.to/3Pcq8Go
2. Black Rednecks and White Liberals: https://amzn.to/48gkADw
3. Basic Economics: https://amzn.to/48ekoVw
4. A Conflict of Visions: https://amzn.to/3Zhxn4L
5. Dismantling America: https://amzn.to/3POMXyS
6. Discrimination and Disparities: https://amzn.to/3Oxfqbj
7. Economic Facts and Fallacies: https://amzn.to/3RWYDl2
8. Knowledge And Decisions: https://amzn.to/3S9NihF
9. The Thomas Sowell Reader: https://amzn.to/3cqiMzp
10. Is Reality Optional?: https://amzn.to/3Py9DU9
11. The Vision of the Anointed: https://amzn.to/46f8CrY
#thomassowell #socialjustice #affirmativeaction
https://wn.com/Thomas_Sowell_On_How_The_Government_Increases_Cost_Price_With_Price_Control_Affordable_Programs
How the Government Increases Cost Price with Price Control - Affordable Programs | Thomas Sowell
---
👉 Join this channel to get access to perks:
https://www.youtube.com/channel/UCflhc3xU5ZSx_7_vzdb69gA/join
👉Join our exclusive Telegram channel here: https://t.me/tsowell
---
Get Thomas Sowell's Latest Book here:
1. Social Justice Fallacies: https://amzn.to/3Pcq8Go
2. Black Rednecks and White Liberals: https://amzn.to/48gkADw
3. Basic Economics: https://amzn.to/48ekoVw
4. A Conflict of Visions: https://amzn.to/3Zhxn4L
5. Dismantling America: https://amzn.to/3POMXyS
6. Discrimination and Disparities: https://amzn.to/3Oxfqbj
7. Economic Facts and Fallacies: https://amzn.to/3RWYDl2
8. Knowledge And Decisions: https://amzn.to/3S9NihF
9. The Thomas Sowell Reader: https://amzn.to/3cqiMzp
10. Is Reality Optional?: https://amzn.to/3Py9DU9
11. The Vision of the Anointed: https://amzn.to/46f8CrY
#thomassowell #socialjustice #affirmativeaction
- published: 22 Aug 2022
- views: 5735
9:43
Price Ceilings: Rent Controls
Rent controls are a type of price ceiling. We’ll use our diagram to show how rent controls create shortages by reducing the supply of apartments available on th...
Rent controls are a type of price ceiling. We’ll use our diagram to show how rent controls create shortages by reducing the supply of apartments available on the market. Rent controls also result in reduced product quality, since they reduce the returns to landlords from renting apartments. Landlords respond by cutting costs or performing less maintenance, leading to lower quality. There are search costs associated with rent controls, and they also lead to a misallocation of resources since apartments are not allocated to renters who value them the most.
Try our price ceilings interactive practice: https://mru.io/u7y
Microeconomics Course: https://mru.io/zur
Next video: https://mru.io/a88
Help us caption & translate this video! http://amara.org/v/GLJ9/
00:00 Introduction
00:23 Rent Controls Are Price Ceilings
00:39 Rent Controls Create Shortages
02:42 Effect of Debating Rent Controls
04:26 Reductions in Product Quality
05:49 Wasteful Lines and Search Costs
07:41 Misallocation of Resources
https://wn.com/Price_Ceilings_Rent_Controls
Rent controls are a type of price ceiling. We’ll use our diagram to show how rent controls create shortages by reducing the supply of apartments available on the market. Rent controls also result in reduced product quality, since they reduce the returns to landlords from renting apartments. Landlords respond by cutting costs or performing less maintenance, leading to lower quality. There are search costs associated with rent controls, and they also lead to a misallocation of resources since apartments are not allocated to renters who value them the most.
Try our price ceilings interactive practice: https://mru.io/u7y
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00:00 Introduction
00:23 Rent Controls Are Price Ceilings
00:39 Rent Controls Create Shortages
02:42 Effect of Debating Rent Controls
04:26 Reductions in Product Quality
05:49 Wasteful Lines and Search Costs
07:41 Misallocation of Resources
- published: 26 Feb 2015
- views: 138551