Four things have almost ...

Four things have almost invariably followed the imposition of controls to keep prices below the level they would reach under supply and demand in a free market: (1) increased use of the product or service whose price is controlled, (2) Reduced supply of the same product or service, (3) quality deterioration, (4) black markets.
Four things have almost invariably followed the imposition of controls to keep prices below the level they would reach under supply and demand in a free market: (1) increased use of the product or service whose price is controlled, (2) Reduced supply of the same product or service, (3) quality deterioration, (4) black markets.
 Thomas Sowell

Quotes from the same author

During the 1930s, some of the leading intellectuals in America condemned our economic system and pointed to the centrally planned Soviet economy as a model -- all this at a time when literally millions of people were starving to death in the Soviet Union, from a famine in a country with some of the richest farmland in Europe and historically a large exporter of food.
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 Thomas Sowell
The government is now in a position to do what Franklin D. Roosevelt did during the Great Depression of the 1930s - use a crisis of the times to create new institutions that will last for generations. To this day, we are still subsidizing millionaires in agriculture because farmers were having a tough time in the 1930s.
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 Thomas Sowell
It is amazing how many of the horrors of the 20th century were a result of charismatic quacks misleading millions of people to their own doom. What is even more amazing is that, after a century that saw the likes of Hitler, Lenin and Mao, we still see no need to distrust charisma as a basis for choosing leaders, either in politics or in numerous organizations and movements.
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 Thomas Sowell
By the end of the 20th century, "liberals" had again discredited themselves, to the point where they went back to calling themselves "progressives" to escape their past, much as people do when they declare bankruptcy.
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 Thomas Sowell
One of the bitter ironies of the 20th century was that communism, which began as an egalitarian doctrine accusing capitalism of selfishness and calloused sacrifices of others, became in power a system whose selfishness and callousness toward others made the sins of capitalism pale.
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 Thomas Sowell