Rent Control: Politically Expedient, Economically Disastrous – Eccentric Economics


Rent Control: Politically Expedient, Economically Disastrous – Eccentric Economics

2019-04-08T15:59:44-07:00April 8th, 2019|Advocacy|

Of the many unsuccessful attempts public officials have made to alleviate financial hardships for the working class, rent control is undoubtedly a contender for one of their most documented failures. In a nutshell, rent control is when legislators enact price ceilings to cap the amount landlords can charge their tenants. It has been so well-documented that, in fact, economists across the board have deemed it bad economics, including the Keynesian champion Paul Krugman. After the policy’s many failures and lackluster results, economists have concluded that these seemingly well-intentioned proposals amount to a decrease in both the supply and quality of housing units. Unfortunately, this has not stopped politicians in their attempt to revamp the unsound policy.

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