It is hard to imagine, but some people actually thought it was perfectly reasonable (and Constitutional) for the government to dictate to business what they should charge for their products and dictate to workers what their time was worth. I was working at J.C. Penney in Sacramento and going to grad school at night, but I took time out to send “The Case against Wage and Price Controls” to National Review in July. It became the cover story on September 24, and Bill Buckley later hired me over lunch in San Francisco. If anyone is interested, it’s available at SCRIBD here.
Featuring the author Betty Medsger; with comments by Julian Sanchez, Research fellow, Cato Institute; moderated by Gene Healy, Vice president, Cato Institute.
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In this issue of the Cato Journal, economists Geoffrey Black, D. Allen Dalton, Samia Islam, and Aaron Batteen offer one prominent example of allowing the market to work. Also in this issue, economists Jason E. Taylor and Jerry L. Taylor reexamine the relationship between marginal tax rates and U.S. growth, and Robert Krol looks at bias in CBO and OMB economic forecasts.
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