Price controls almost invariably produce black markets, where prices are not only higher than the legally permitted prices, but also higher than they would be in a free market, since the legal risks must also be compensated. While small-scale black markets may function in secrecy, large-scale black markets usually require bribes to officials to look the other way. Thomas Sowell
Some Similar Quotes
  1. When I despair, I remember that all through history the way of truth and love have always won. There have been tyrants and murderers, and for a time, they can seem invincible, but in the end, they always fall. Think of it--always. - Mahatma Gandhi

  2. Buy a gift for a dog, and you'll be amazed at the way it will dance and swerve its tail, but if don't have anything to offer to it, it won't even recognize your arrival; such are the attributes of fake friends. - Michael Bassey Johnson

  3. May the forces of evil become confused on the way to your house. - George Carlin

  4. When people see some things as beautiful, other things become ugly. When people see some things as good, other things become bad. - Lao Tzu

  5. We are supposed to call poison medicine and we wonder why we're always sick. - Stefan Molyneux

More Quotes By Thomas Sowell
  1. It doesn't matter how smart you are unless you stop and think.

  2. People who pride themselves on their "complexity" and deride others for being "simplistic" should realize that the truth is often not very complicated. What gets complex is evading the truth.

  3. There are only two ways of telling the complete truth--anonymously and posthumously.

  4. What is ominous is the ease with which some people go from saying that they don't like something to saying that the government should forbid it. When you go down that road, don't expect freedom to survive very long.

  5. Nothing is easier than to get peaceful people to renounce violence, even when they provide no concrete ways to prevent violence from others.

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