Sunday, February 4, 2018

The Horrific Rent Control in Mumbai

Watch this.



 -RW

2 comments:

  1. Over and over again the moral high ground is ceded to these meddlers by calling it 'well meaning'. The meddlers, at least a fair proportion of them, know exactly what they are doing. They know they are destroying the wealth of the individual small landlords. Over time the land holdings become consolidated.

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  2. It's interesting that the video is entitled "Development Economics," as if that is a separate branch of economics. Yet all of the economic laws (implicitly) discussed are applicable universally. Rent controls have a similar impact in the US, and are themselves just an example of state-enforced priced ceilings which, as we know, create artificial scarcity (see, "price gouging" legislation's impact after natural disasters). The economics profession does us a disservice by creating the illusion that economic laws apply differently in different contexts.

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