In theory rent control sounds like a perfect way to help the poor by setting the price ceilings on the rent, but in reality it only will hurt them. In the real world rent controls do not work like most people would expect them to, maybe its because not many people had their lesson in economics. Controls on rent will lead to less efficient allocation of scarce resources, and people at the top of the …
showed first 75 words of 1579 total

showed last 75 words of 1579 total
…if I was presented with this problem in September because I would be thinking without applying economics to this problem. I would be very angry to see tax money that we pay go to subsidizing rent of low income families, but after learning more about this problem I realized that benefits in the long run would not only be great for the low income families and myself but also for the society as a whole.