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<p>[QUOTE="kevin McGonigal, post: 4119115, member: 72790"]I am afraid you are correct about the West nothing of the ruler, Muhammed Khalji and I would never imply that any economic principle has the certainty of the physical laws of the universe. It may be possible that your ruler was able, perhaps by brute force, terrorizing the population into submitting to his price controls, and that his state was more compact and his equivalent of the Frumentarii (imperial secret police) more effective at infiltrating the market place, and his decrees may not have been far removed by from practical supply and demand conditions in his realm, but I think the general experience of most states that have tried price and wage controls is that all they do is empty the store shelves and reopen the black market bazaars. Bears can be made to dance but that does not mean that most bears in the forest do much dancing.[/QUOTE]</p><p><br /></p>
[QUOTE="kevin McGonigal, post: 4119115, member: 72790"]I am afraid you are correct about the West nothing of the ruler, Muhammed Khalji and I would never imply that any economic principle has the certainty of the physical laws of the universe. It may be possible that your ruler was able, perhaps by brute force, terrorizing the population into submitting to his price controls, and that his state was more compact and his equivalent of the Frumentarii (imperial secret police) more effective at infiltrating the market place, and his decrees may not have been far removed by from practical supply and demand conditions in his realm, but I think the general experience of most states that have tried price and wage controls is that all they do is empty the store shelves and reopen the black market bazaars. Bears can be made to dance but that does not mean that most bears in the forest do much dancing.[/QUOTE]
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