[count-your-change]

The last Sowell I read was one of his books on communism. Simple to understand and well written.

When we talk of prices we're talking about rationing by price instead of some other method.
As to desirable consequences the question is desirable to whom? And why?

If the goal is to alleviate the need of the largest number of people to the degree possible during an emergency, that is one goal. If the goal is keeping a supply/demand market going on with supply being able to charge until the demand can't meet the price and lessens that is something else.

If the goal is to restrict supply to those “who really, really need it”, raising prices is not an efficient way to do it.

[sickoflibs]

RE :&rdquoWhen we talk of prices we're talking about rationing by price instead of some other method.
As to desirable consequences the question is desirable to whom? And why?”

This is where Sowell is at his best. He describes prices in a market system as a thermometer that tells you your body temperature.

The thermometer reads too high and you better do something about it.

But price controls is like saying the thermometer cant go up too fast regardless of your real temperature because that is unfair.

So NJ drivers get little or no gas at fair prices, and they don't understand why. But it is fair. Or is it?