Arguments Against
Writing in 1946, economists Milton Friedman and George J. Stigler said: "Rent ceilings, therefore, cause haphazard and arbitrary allocation of space, inefficient use of space, retardation of new construction and indefinite continuance of rent ceilings, or subsidization of new construction and a future depression in residential building." Although those paying lower than market rent are "protected," most economists argue that newer residents actually pay higher rent due to reduced supply.
In a 1992 stratified, random survey of 464 economists and economics graduate students in the US, 76.3% generally agreed that " ceiling on rents reduces the quantity and quality of housing available."
Read more about this topic: Rent Control
Famous quotes containing the word arguments:
“What can you do against the lunatic who is more intelligent than yourself, who gives your arguments a fair hearing and then simply persists in his lunacy.”
—George Orwell (1903–1950)
“Through Plato Aristotle came to believe in God, but Plato never attempted to prove His reality. Aristotle had to do so. Plato contemplated Him; Aristotle produced arguments to demonstrate Him. Plato never defined Him, but Aristotle thought God through logically and concluded with entire satisfaction to himself that He was the Unmoved Mover.”
—Edith Hamilton (1867–1963)