The price controls would have reduced debit card interchange fees by as much as 80%.
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Meanwhile, a vast bureaucracy has grown up to administer the price controls, supported by volunteers and litigators.
After the price controls of the Net Book Agreement collapsed in 1995, supermarkets began shifting best-sellers at discounts.
And the price controls the federal government plans to impose on insurers will simply result in the disappearance of private insurance options.
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The price controls are already causing trouble as price controls always do.
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The government blames hoarding, while the opposition points at the price controls imposed by Chavez in an attempt to bring down double-digit inflation.
After a period of consultation, Ofcom expects to publish a statement in the summer, shortly after which the price controls are planned to come into effect.
Altogether, the price controls would affect about 60 of the largest banks, including Bank of America, issuing debit cards that account for more sales than credit cards.
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Congress imposed the price controls in 1983 for Part A and 1992 for Part B arguing that it would reduce Medicare costs, and yet total spending continues to rise much faster than the projections.
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Business will always flow to the lowest priced product, even if the lower price is the result of government price controls.
So while the folly of price controls is obvious among the economic commentariat, there's a strange paradox at work when it comes to the Federal Reserve.
Mr Salins says the members of the state legislature are well aware of all the basic arguments about the evil effects of price controls on the property market.
Not to be outsmarted, on November 16th the government extended price controls to practically everything, from typewriters to babies' nappies.
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But to the extent that price controls maintain below-market prices, they simultaneously encourage consumers to buy more and encourage producers to supply less.
The current law, known as The Farm Security and Rural Investment Act of 2002, traces its roots back to the system of price controls developed during Franklin Roosevelt's New Deal.
Digging into history, Wigmore points out that the bad crashes in the past usually coincided with bad policy decisions by governments: In 1929 protectionism was on the rise, and in 1973-74 there were the politically inspired Arab oil embargo, wage and price controls, the Vietnam War and Watergate.
It is with the Fed funds rate that logic about price controls goes out the window.
He said the principal differences in their systems and that of the U.S. are that the French and Germans have meaningful price controls and rationing while the United States does not.
We should also not overlook the threat to economic freedom posed by even mild inflation, as the U.S. experiment with wage-price controls illustrated in the early 1970s.
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In effect, they want the government to impose price controls on prescription drugs.
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The government also slapped price controls on some food items and increased subsidies for low income earnings struggling with food inflation.
What matters isn't CPI the month after the government claps down price controls, it's CPI six months or a year later.
Since then the government has resorted to large-scale food imports to tackle chronic shortages, which the opposition blames on price controls.
Until recently another big deterrent to energy investment in South-East Asia was the widespread use of price controls and fuel subsidies.
Hospitals have also proved adept in the past at evading price controls on particular drugs by prescribing other medicines or unnecessary extra tests and treatments.
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The finance ministry has been circulating a draft decree that would allow the government to impose price controls on a wide range of essential goods.
In other words, because OPEC controls the price of crude oil, all we need to do is tell OPEC to reduce oil prices and Ta-Da!
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Nothing surprising here--this is the inevitable result of price controls.
The regulator has powers to enforce price controls on Phoenix, but said it has not yet felt the need to use those powers.
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The White House has said it has done everything California has asked for except imposing price controls, which the administration says would only make matters worse.
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