How do we know liberals just don't get it when it comes to the free-market system?
Among other evidence, we look to California, where officials enforced price controls on electricity sold to the consumer while simultaneously deregulating producers (and discouraging the development of new generators via environmental overkill).
What are California senators now screaming for in Congress? Price controls.
All Democrats should be required to read Thomas Sowell's book "Basic Economics," in which he documents the failure of government-imposed price controls going back as far as the Roman Empire. Countries having tried price controls with resultant failure include: Sweden, England, France, the Soviet Union, China, North Korea, Cuba, Vietnam and even the good old USA.
Professor Sowell quotes a Vietnamese communist as saying, "The Americans could not destroy Hanoi by bombing it, but we have destroyed it by forcing very low rents."
One hears very little of the failed economic theories embraced by liberals of the Lyndon Johnson and Jimmy Carter administrations, theories advanced in our "schools of higher learning" that led to horrendous inflation and 21 percent interest rates. Some of the same players are still with us and would again present themselves as experts in the field of economics.
When it comes to fiscal management, President Bush is vastly more competent than his critics.
F.T. Gardiner
Provo