Rent Control: A History of Failure

14 Comments Governments can and do try to fix prices, but history tells us it never works. From the price-control dikats of the Roman Empire’s Diocletian , to the wage and price controls of President Richard Nixon, governments have tried and failed. The historian Edward Gibbon said the Roman Empire imploded owing to economic disasters and less to barbarians at the gate. More recently, President Nixon imposed wage and price controls before the 1972 elections. He was re-elected when they seemed to be working. However, owing to the Watergate scandal, he wasn’t around when his price control scheme failed […]

Click here to view original web page at mises.org