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:
“Yesterday the Electoral Commission decided not to go behind the papers filed with the Vice-President in the case of Florida.... I read the arguments in the Congressional Record and can’t see how lawyers can differ on the question. But the decision is by a strictly party vote—eight Republicans against seven Democrats! It shows the strength of party ties.”
—Rutherford Birchard Hayes (1822–1893)
“Nothing requires a greater effort of thought than arguments to justify the rule of non-thought.”
—Milan Kundera (b. 1929)