“The Foundation for Economic Education’s goal from the very beginning was to promote, what Leonard E. Read called, the freedom philosophy. Understanding the principles of economics is a crucial step to understanding why freedom works. The tools of economics can illustrate why many policies have the opposite effect of their stated goals. This is exactly what FEE’s second ever publication, Roofs or Ceilings? The Current Housing Problem, set out to do for rent control.
Written by Milton Friedman and George Stigler early in their careers, the pamphlet explains through economics why the choice is between having less, and poorer quality housing through price ceilings (rent control’s means), or to have more, and better quality roofs over our heads through the use of price rationing, i.e. letting the market work. And Friedman and Stigler do an exceptional job with this task.” Read more.
“Making Sense of the Controversy”
From the Archives, February 22, 2011.
Via the Foundation for Economic Education.
Image by renjith krishnan / FreeDigitalPhotos.net.