Quote by Irving S. Olds

The whole recorded history of man is strewn with the wreckage of the great civilizations which have crumbled under price controls; and in forty centuries of human experience, there has never been

The whole recorded history of man is strewn with the wreckag

Summary

a successful long-term implementation of price controls. This quote emphasizes the historical failures and negative consequences of price controls. It suggests that throughout mankind's written history, civilizations that have attempted to regulate or control prices have ultimately collapsed. The quote also implies that this pattern has persisted for thousands of years, indicating that price controls are not a viable solution for economic stability and prosperity.

Topics

Inflation

By Irving S. Olds

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