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@antonydavies·6.1K subscribers·805 videos
Prof. Antony Davies: Unintended Consequences of Price Controls
Posted
June 2, 2011
Views
97,717
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1,216
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105
Engagement
1.35%
June 2, 2011
97,717
1,216
105
1.35%
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4:44Now PlayingProf. Antony Davies explains that prices are not levers that set value, but rather, are metrics that respond to value. Therefore, since government cannot legislate value, attempts to control prices will generate unintended consequences. Using the minimum wage as an example, Davies demonstrates that minimum wage laws increase unemployment rates amongst low-skilled workers.
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