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06/25/2006: "Minimum price laws?"

What would happen if we instituted minimum price laws on goods. In the above article from Cafe Hayek the idea of having a minimum price law imposed on the sale of cars is explored and compared to the reality of having minimum price laws imposed on labor. It's an interesting exercise in reductio ad absurdum, and some the comments sound well thought out.

Probably the most important comment (which itself doesn't fall on either side of the argument) is made by a poster named liberty about half way down the page: "What you are missing is all of the effects other than the immediate. When a stone falls into the water, it doesn't create just one ring." That, surely, is something missing from most political debates, no matter what the context.