Rent control means less affordable housing for the poor
Over the weekend, I got a healthy dose of free-market thinking at the Acton Institute's summer Acton University. Lord Brian Griffiths of Goldman-Sachs (and close advisor to Maggie Thatcher) gave a great talk about the heroic and moral calling of business. This I already knew, but it was nice to be reminded. But one thing that I did not know was what Jay Richards, author of the forthcoming Christian Case for Capitalism, pointed out about good intentions and their bad consequences. It seems that a study done of the largest cities in the U.S. (and I can't verify the report until Richards' book comes out) which employ rent control legislation in an effort to provide "affordable housing" for the poor actually results in less affordable housing for the poor.
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Posted by Jay Lafayette
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