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 SowellPeople who pride themselves on their "complexity" and deride others for being "simplistic" should realize that the truth is often not very complicated. What gets complex is evading the truth.
Thomas SowellWomen can say anything they want to men, or blacks to whites, with impunity. But strong words in the other direction can bring down on students the wrath of the campus thought police - as well as punishments that can extend to suspension or expulsion.
Thomas SowellThe law of diminishing returns means that even the most beneficial prinicple will become harmful if carried far enough.
Thomas SowellPeople have a vested interest in promoting one set of polices rather than finding out what the truth is.
Thomas SowellThose who automatically say that the social pathology of the ghetto is due to poverty discrimination and the like cannot explain why such pathology was far less prevalent in the 1950s, when poverty and discrimination were worse. But there were not nearly as many grievance mongers and race hustlers then.
Thomas Sowell