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:
“It has often been argued that absolute scepticism is self-contradictory; but this is a mistake: and even if it were not so, it would be no argument against the absolute sceptic, inasmuch as he does not admit that no contradictory propositions are true. Indeed, it would be impossible to move such a man, for his scepticism consists in considering every argument and never deciding upon its validity; he would, therefore, act in this way in reference to the arguments brought against him.”
—Charles Sanders Peirce (1839–1914)
“There is no assurance of the great fact in question [namely, immortality]. All the arguments are mere probabilities, analogies, fancies, whims. We believe, or disbelieve, or are in doubt according to our own make-up—to accidents, to education, to environment. For myself, I do not reach either faith or belief ... that I—the conscious person talking to you—will meet you in the world beyond—you being yourself a conscious person—the same person now reading what I say.”
—Rutherford Birchard Hayes (1822–1893)