The Morning Rant: Minimalist Edition

Market economies have been working pretty well for humanity's entire history. Even when politicians and bureaucrats and fascists interfere, free markets survive. In the depths of the Soviet repression of pretty much everyone, little pockets of commerce existed: barter and blackmarkets flourished! Of course those markets weren't nearly big enough to save the Soviet economy, and there are countless other examples of socialist countries absolutely destroying vibrant economies in a matter of a generation. Venezuela is a perfect current example, but the list is long.

But when the fascist/socialist boot is lifted from the neck of commerce, look what happens! And it happens quickly!

Housing Supply Booms in Argentina Since Javier Milei Cut Rent Control Law

In late 2023, the capital city of Buenos Aires — home to the most desirable real estate in the country — estimated that one in seven homes was vacant. The Argentine Real Estate Chamber said at the end of 2023 that the supply of rental properties in Buenos Aires fell by 95 percent in the three years since the Rental Law was passed.

Milei overturned the Rental Law with an executive decree in December, one of many sweeping changes he implemented in a program he described as “shock therapy” for Argentina’s moribund socialist economy.

Newsweek on Tuesday described the result as a “surge in housing supply” that directly caused a “drop in rental prices.”

“Since Millei’s repeal of rent control laws took effect on December 29, the supply of rental housing in Buenos Aires has jumped by 195.23%, according to the Statistical Observatory of the Real Estate Market of the Real Estate College,” Newsweek said.

In less than one year, there has been a tectonic shift in a major market in Argentina, all because one man saw the evil of central planning and the societal destruction that it wreaks.

But the lesson will be lost on America. The Harris/Obama junta is busily formulating plans for more central control of housing, and there seem to be plans in the works for price controls on other goods.

Unless these budding dictators are also capable of changing human nature, they are doomed to fail. All they will get -- and it's probably the unstated goal -- is a decrease in supply and quality of every controlled good. Thousands of years of human history backs up that consequence.

But THIS TIME will be different, because they have the right people in charge!

posted by CBD at 11:00 AM

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