Episode 132: Words & Numbers Listener Special #4
Words & Numbers
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The Price, Edict of Diocletian and Its Effects
The government is doing right now the same things almost in the same order in the student loan market that he did in the housing market. Diocletian indicated that prices for goods and services had to be set at certain levels. And it had exactly the same effect as price controls do now. Why? Because these are ironclad laws of economics. So I'm surprised that so few people talk about it.
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