Monday, March 9, 2015

How Some Hookers Beat the 1972 Price Control Induced Gas Shortages and Lines

Where price controls exist and prevent prices from rising to free market levels, shortages and lines emerge for all except those who have an edge. NyPo reports:
Dennis Hof... wound up owning gas stations, buying one and expanding to five within a few years. During the 1972 gas shortage, he was approached by a woman who owned a local massage parlor and had a problem — her girls couldn’t get to work because they couldn’t get gas. They cut a deal that Hof would put fuel aside for her employees and could therefore make use of their services anytime, gratis, in return.