Friday, February 27, 2009

Wage and Price Controls in the Ancient World

From the Mises Economics blog:

Excerpt from Forty Centuries of Wage and Price Controls, by Robert Scheuttinger and Eamonn F. Butler:

For the past forty-six centuries (at least) governments all over the world have tried to fix wages and prices from time to time. When their efforts failed, as they usually did, governments then put the blame on the wickedness and dishonesty of their subjects, rather than upon the ineffectiveness of the official policy. The same tendencies remain today. FULL ARTICLE