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Quote by Dean Alford

“We earnestly recommend young men to read what has been to ourselves a truly delightful work.”

Quote by Dean Alford

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Dean Alford

American politician born on July 17, 1953. more

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“Sellers in general maintain the quality of their products and services for fear of losing customers otherwise. But, when price controls create a situation where the amount demanded is greater than the amount supplied - a shortage - fear of losing customers is no longer as strong an incentive. For example, landlords typically reduce painting and repairs when there is rent control, because there is no need to fear vacancies when there are more tenants looking for apartments than there are apartments available.”

NeedsStrongQualitySituationGreaterExamplePaintingProductsAmountLosingAvailableCustomersApartmentIncentivesShortageSellersLandlordTenantsVacancyRent Control
Author:Thomas Sowell
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