When will they ever learn?

We have a lot of people dreaming about utopia – always have, probably always will. Communism, Marxism, Socialism, and other ‘isms’ are of this ilk. For the real world, we also have a lot of history to examine to find out what can make dreams come true and what cannot. Dr. Sowell notes A Lesson from Venezuela at Real Clear Politics.

Venezuela is currently giving us a lesson on the consequences of price controls. The government of leftist President Hugo Chavez has imposed price controls — and seems to be surprised that lower prices have lead to reduced supplies, even though price controls have led to reduced supplies in countries around the world and for thousands of years.

What is remarkable is how little interest there is among the media and among the public in how often and how consistently this has happened in the wake of price controls.

When politicians today say that they are going to “bring down the cost of medical care” or make housing “affordable,” what are they talking about other than price controls?

There is a place where the dreams are closer to reality than nearly anywhere else. That seems to create some sort of guilty envy that stimulates trashing and bashing – of what has created that dream and not what has destroyed it elsewhere. It should be enough to make you wonder.

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