Arguments Against
Writing in 1946, economists Milton Friedman and George J. Stigler said: "Rent ceilings, therefore, cause haphazard and arbitrary allocation of space, inefficient use of space, retardation of new construction and indefinite continuance of rent ceilings, or subsidization of new construction and a future depression in residential building." Although those paying lower than market rent are "protected," most economists argue that newer residents actually pay higher rent due to reduced supply.
In a 1992 stratified, random survey of 464 economists and economics graduate students in the US, 76.3% generally agreed that " ceiling on rents reduces the quantity and quality of housing available."
Read more about this topic: Rent Control
Famous quotes containing the word arguments:
“The conclusion suggested by these arguments might be called the paradox of theorizing. It asserts that if the terms and the general principles of a scientific theory serve their purpose, i. e., if they establish the definite connections among observable phenomena, then they can be dispensed with since any chain of laws and interpretive statements establishing such a connection should then be replaceable by a law which directly links observational antecedents to observational consequents.”
—C.G. (Carl Gustav)
“Yesterday the Electoral Commission decided not to go behind the papers filed with the Vice-President in the case of Florida.... I read the arguments in the Congressional Record and can’t see how lawyers can differ on the question. But the decision is by a strictly party vote—eight Republicans against seven Democrats! It shows the strength of party ties.”
—Rutherford Birchard Hayes (1822–1893)