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Price Control

A government that sets out to abolish market prices is inevitably driven toward the abolition of private property; it has to recognize that there is no middle way between the system of private property in the means of production combined with free contract, and the system of common ownership of the means of production, or socialism. It is gradually forced toward compulsory production, universal obligation to labor, rationing of consumption, and, finally, official regulation of the whole of production and consumption.The Theory of Money and Creditp. 281Price Control
During thousands of years, in all parts of the inhabited earth, innumerable sacrifices have been made to the chimera of just and reasonable prices.The Theory of Money and Creditp. 282Price Control
Economic affairs cannot be kept going by magistrates and policemen.The Theory of Money and Creditp. 282Price Control
Economics does not say that isolated government interference with the prices of only one commodity or a few commodities is unfair, bad, or unfeasible. It says that such interference produces results contrary to its purpose, that it makes conditions worse, not better, from the point of view of the government and those backing its interference.Human Actionp. 758; p. 764Price Control
Even capital punishment could not make price control work in the days of Emperor Diocletian and the French Revolution.Defense, Controls, and Inflationpp. 109-10Price Control
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