With all the talk of price controls on gas, it is useful to consider their ill-effects by way of example, not from the 1970s but from present-day Iraq. Seems like regime change is needed.
Source link: http://blog.mises.org/4068/forget-the-1970s/
Forget the 1970s
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My guess is that there is some political reason for controling the price of gas in Iraq. Maybe there is someone down there who uses lots of fuel for his various verhicles and at the same time has the political means to buy cheap while not concerned with waiting in line at some gas station. I wonder who that could be?!
Cf. http://erzliberal.blogspot.com/2005/08/subventioniertes-oel-im-irak.html
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