Sellers in general maintain the quality of their products and services for fear of losing customers otherwise. But, when price controls create a situation where the amount demanded is greater than the amount supplied - a shortage - fear of losing customers is no longer as strong an incentive. For example, landlords typically reduce painting and repairs when there is rent control, because there is no need to fear vacancies when there are more tenants looking for apartments than there are apartments available.
Thomas SowellBarack Obama has done more than anyone else to promote the dangerous illusion that we can choose whether to have a war or not. But our enemies have already made that choice. Retired Marine Corps General James Mattis said: โNo war is over until the enemy says it's over. We may think it's over, we may declare it over, but in fact, the enemy gets a voteโ.
Thomas SowellBalanced budget requirements seem more likely to produce accounting ingenuity than genuinely balanced budgets.
Thomas Sowell