[nathanbedford]

Gauging, what is gauging? Providing a good at a market price, or failing to sell it if the market considers the price too high? Gouging, you say? Let them gouge, sir, and soon the market will be awash in cheap oil. Prosecute them, and you will have a privileged elite, political, class with plenty of oil for their personal use and endless lines, shortages, and a black market for the rest of us.

I am a free market conservative, not a disciple of price fixing. Rent control in NYC exists as a rump appendage of well meaning temporary emergency measures by statists during the Korean War! But, what the hell, we still have troops in Korea, so maybe it was really only a temporary, emergency, war measure.

Let's price fix gas just until the "crisis" passes. I am sure you will set a fair date, and while you are at it, set a fair price, and, oh yes, you can tell us how much of it we should be permitted to have.

[Shalom Israel]

Rent control in NYC exists as a rump appendage of well meaning temporary emergency measures by statists during the Korean War!

Walter Block gives a very entertaining summary of the history of NYC rent control. Among other plot twists:

• When rent controls were put in place, new housing stopped being built.

• When a specific decontrol for new housing was implemented, there was such a housing boom that measures were taken to reduce new construction.

• When the rule was changed to limit the amount of land that was buildable, there was another boom, this time in foundations--to take advantage of the grace period.

• When the rule was changed to decontrol apartments as tentants moved out, there was a sudden wave of apartments being 110 degrees in the summer, 45 degrees in the winter, water being shut off, etc., etc., to encourage tenants to move out.

• Since buildings were worth fairly little at controlled prices, but they were insured for pre-control values, there was a rash of building fires in Manhattan.