3 ms·
I suspect because most people do not understand dynamic system and equilibrium. They do understand individual data points such as: my rent is too high or my wa
by testfoobar 6y ago
I suspect because most people do not understand dynamic system and equilibrium. They do understand individual data points such as: my rent is too high or my wage is too low. Therefore it is easy to sell a remedy that claims to address this.
Unfortunately, when the dynamic system finds a new equilibrium, people are surprised. To this day, people don't seem to understand that rent control suppresses supply leading to higher overall rents.