“In 302, the Roman emperor Diocletian commanded "there should be cheapness," declaring, "Unprincipled greed appears wherever our armies ... march. ... Our law shall fix a measure and a limit to this greed." The predictable result of Diocletian's food price controls were black markets, hunger and food confiscation by his soldiers. Despite the disastrous history of price controls, politicians never manage to resist tampering with prices -- that's not a flattering observation of their learning abilities.”
Quote by Walter E. Williams
Author
Walter E. Williams
Walter E. Williams is a distinguished economist born on June 30, 1936. He has made significant contributions to the field of economics, particularly in the areas of free-market theory and racial relations. Professor Williams has taught at several universities and authored several best-selling books, his views and theories have had a profound impact on both academia and the public. more
You May Also Like
Source: Lectures on the Elements of Political Economy ...
“Good temper and moderation are the characteristics of parliamentary language.”
“What came to me as a revelation was the use of rhythm in developing an overall structure in music.”
Source: The devil's progress: A poem
“That same manne, that renneth awaye,Maye again fight, an other daye.”
“For Myrth prolongeth lyfe, and causeth health.”
Source: Roister Doister: Written, Probably Also Represented, Before 1553
“I am sorie God made me so comely.”
Source: Roister Doister: Written, Probably Also Represented, Before 1553