tag:blogger.com,1999:blog-3758330678390419129.post5662289112586779227..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: In 1970 a Penny Gas Hike Was Big NewsRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-3758330678390419129.post-81130217662349431872015-09-12T19:06:34.991-04:002015-09-12T19:06:34.991-04:00This is an instance where government price ceiling...This is an instance where government price ceilings caused long term prices to remain elevated. Government removed the incentive for competitors to come in and increase supplies. Every one understands that price ceilings reduce supply, but it is less known that they actually raise prices longer term.Cosmo Kramerhttps://www.blogger.com/profile/17504884455445140075noreply@blogger.com