With gasoline prices rising, political rhetoric is rising even faster. Liberals in Congress and in the media have launched a war of words, whose net result may well be a demand for some form of price control.

Price controls are not a new idea. There have been price controls in countries around the world. There were price controls during ancient times in Babylon and in the Roman Empire.

Whatever the hopes that may have inspired price controls, economists have studied their actual ...

( Back to Article )