That's such a good point. We haven't experienced wide-spread price controls since the 70's, which is probably why most Boomers understand how bad they are.

Most Americans were not alive then and therefor have no first-hand experience of how disastrous that policy is. 

Undisciplined

The evidence of how price controls work is not hard to find. But its impossible to learn when you don't think. That's where most people at. They are vessels that are poured into and emptied. In my experience very little contemplation occurs on these topics.

Its different when you live it though. Americans have had it very good. A very privileged life. Those that will not learn will have many hard lessons ahead of them.

kepford

econ

Grocery Store Price Gouging?

I spent my early childhood in a communist country. The only things you could walk into a store and buy were vinegar and mustard. Everything else had to be 'procured', by knowing people, putting your name on a waitlist, or waiting in line for days, with family members taking turns. That's what price controls lead to.

In 1989 that was dropped and suddenly everything become available.