From: Mermaid (hidden@lucifer.com)
Date: Sun Oct 26 2003 - 16:41:01 MST
[Ophis]The problem with the government's coercive minimum wage laws is the same as with its rent control policies, its other forced price controls, and its control of the money supply and interest rates. It ends-up hurting the very people it is supposedly meant to help: the poor. (see http://www.quebecoislibre.org/020216-15.htm)
- Government rent control has created shortages of rental properties. This is exacerbated by huge building code regulations, which increases the cost of building new housing property. (snip)
[Mermaid]heh...quebecoislibre.org..those quebecoise...so fierce..anyways...agree re rent control..ditto on interest rate ceilings too...interest ceilings can also be added to the list of inefficient and misplaced govt concern/meddling...when lenders are forced to *not* lend money because of govt's restrictions of interest rates...whats the point of a legal low interest ceiling if that discourages lenders from giving out loans because risk is not factored in to make that money available at a higher interest rate. I am not upto the latest, but the last I heard, the lending rate and borrowing rates are subjected to govt ceilings and floors. If someone thinks govt controls are just dandy and/or useful all the time, i urge them to think of the breadlines in Moscow.
how does it help an unemployed person if there is a law that guarantees him a minimum wage of $10/hour if there are no jobs available in the first place...how is rent control useful in any sense if there is a shortage of rental properties..Its not even funny....one european economist made a comment a long time ago re rent control in NYC...there was a time when buildings were abandoned because the rents were too low to cover the basic maintance expenses and taxes for the properties....he said that except for bombing, nothing is as efficient as destorying a city's properties as state enforced rent controls...
btw...are there any european cities that still have rent control policies?
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