Ed Milaband’s Labour plan to introduce “rent control” may sound like a good idea but leading economists explain that this would be a year 1 economist “text book” mistake. It would lead ultimately to higher rents and less supply of rentable properties in Camden and the UK. Labour are just desperate for any ideas to try and win, they don't care about you.
Quotes:
Gordon Brown’s favourite economist Paul Krugman, a Nobel prize-winner, has warned that attempts to control rent always fail, writing: ‘Almost every freshman-level textbook contains a case study on rent control, using its known adverse side-effects to illustrate the principles of supply and demand.’
The socialist Swedish economist Assar Lindbeck once said: ‘Next to bombing, rent control seems in many cases to be the most efficient technique for destroying cities.’
Read more: http://www.dailymail.co.uk/news/article-3056652/Rent-caps-tenants-street-Red-Ed-told-Labour-s-controversial-plans-described-economically-illiterate.html#ixzz3YVwVfxmL
Follow us: @MailOnline on Twitter | DailyMail on Facebook
Read more: http://www.dailymail.co.uk/news/article-3056652/Rent-caps-tenants-street-Red-Ed-told-Labour-s-controversial-plans-described-economically-illiterate.html#ixzz3YVwVfxmL
Follow us: @MailOnline on Twitter | DailyMail on Facebook
Photo Links and photo credits
