35 sats \ 1 reply \ @0xbitcoiner 12 Mar \ on: The Folly of Rent Control in New York City (Again) | Mises Institute econ
I believe it was in Argentina, before the Miley era, that they implemented this type of policy. And do you know what happened? It backfired, because landlords had no incentive to keep their houses for rent. The supply decreased and the rent prices increased. It seems like this is the path that New York is following.
Some econ professors like playing a game with their students called "Rent Control or Bomb Damage". I think Walter Block made this up.
It's like a game show where students have to guess whether the destroyed buildings in a picture were rent controlled or if they had been bombed.
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