Unintended Consequences of Price Controls
Prof. Antony Davies explains that prices are not levers that set value, but rather, are metrics that respond to value. Therefore, since government cannot legislate value, attempts to control prices will generate unintended consequences. Using the minimum wage as an example, Davies demonstrates that minimum wage laws increase unemployment rates amongst low-skilled workers.
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Видео Unintended Consequences of Price Controls канала Learn Liberty
Watch more videos: http://lrnlbty.co/y5tTcY
Видео Unintended Consequences of Price Controls канала Learn Liberty
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