Related Web Links – Module 8 - Supply and Demand: Price Controls (Ceilings and Floors)
Rent Controls that set apartment rates below the market equilibrium often result in shortages and a great deal of effort by landlords to avoid them. Not surprisingly, the controls are not popular with economists. The following link provides additional details about the history and effects of rent controls.
Go to: http://www.econlib.org/library/Enc/RentControl.html
Some history of price controls is provided at the following link: http://www.freedomkeys.com/pricecontrols5.htm.
The Bureau of Labor Statistics provides general wage information and characteristics of minimum wage earners.
Go to: http://www.bls.gov/cps/home.htm
Go to: http://www.bls.gov/cps/minwage2008.htm
In a New York Times column, Paul Krugman looks at the topic of rent controls. The great majority of economists agree that rent controls are a bad idea and that is why they are still commonly practiced.
Go to: http://www.pkarchive.org/column/6700.html