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Energy Price Caps, Please (Satire from Professor Boudreaux for Economic Education)

By Donald J. Boudreaux -- May 19, 2020

Donald Boudreaux’s Cap Energy Prices to Further Economic Education, published in September 2001 by the Foundation for Economic Education (FEE), is a nice antidote to the Left’s old nostrum of price ceilings for energy affordability. The lessons imparted below can be applied to surge pricing (“price gouging”), the subject of this post last week at MasterResource.

Dear Senators Clinton and Schumer:

Having accepted a position on the economics faculty at George Mason University, I just moved from New York to Virginia. But until recently, you were my representatives in the world’s greatest deliberative body. I write to you now on a matter of maximum importance to me, to the Foundation for Economic Education, and, indeed, to all teachers and students of economics across the land.

I encourage you to follow your instincts and vote for price caps on energy.…