Difference between revisions of "Price control"
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* ... price controls would lead to less research and development in the pharmaceutical industry, fewer new prescription drugs, and the reduced availability of prescription drugs<ref>[https://www.heritage.org/research/reports/2005/11/guaranteed-pain-and-suffering-the-recent-research-on-drug-price-controls Guaranteed Pain and Suffering: The Recent Research on Drug Price Controls] - Derek Hunter - November 3, 2005</ref> | * ... price controls would lead to less research and development in the pharmaceutical industry, fewer new prescription drugs, and the reduced availability of prescription drugs<ref>[https://www.heritage.org/research/reports/2005/11/guaranteed-pain-and-suffering-the-recent-research-on-drug-price-controls Guaranteed Pain and Suffering: The Recent Research on Drug Price Controls] - Derek Hunter - November 3, 2005</ref> | ||
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| + | Price controls were first enacted into U.S. law with the 1906 [[Hepburn Act]]. | ||
== References == | == References == | ||
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Revision as of 20:30, August 27, 2020
A price control is a law or regulation that limits the maximum price that can be charged for a good or service. Historically its use in free enterprise economies has mostly been limited to times of war, but has also been imposed in times of peace as a misguided way of controlling the economy.
363 federal court decisions discuss "price controls" and the "Fifth Amendment," which includes the protection of the Takings Clause against a deprivation of contract without just compensation, but only 61 federal court decisions discuss "price controls" and a right to privately contract.[1]
- ... price controls would lead to less research and development in the pharmaceutical industry, fewer new prescription drugs, and the reduced availability of prescription drugs[2]
Price controls were first enacted into U.S. law with the 1906 Hepburn Act.
References
- ↑ E.g., the terms (("contract clause") or "right to contract" or "privately contract" or (obligations w/3 clause))
- ↑ Guaranteed Pain and Suffering: The Recent Research on Drug Price Controls - Derek Hunter - November 3, 2005