Anyone with a basic knowledge of economics and history knows that artificially constrained prices will lead to a shortage of goods and services, because more people will demand those goods and services from producers who will only offer a certain number of things for sale at an artificially low price because they don't want to lose their shirts by selling too many items below cost. Anyone remember the photos of bread lines in the former Soviet Union?
Here's a good primer on the problem with price controls: http://wiki.mises.org/wiki/Price_controls
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