Sadiq Khan is indeed different from certain of his coreligionists, he doesn’t want to subject London to actual and real bang-bang bombing. He just wants to have as close as possible the same effect upon the housing of The Great Wen.
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]Sadiq Khan calls for new powers to impose London rent controls[/perfectpullquote]Sigh.
As standard economic theory states, as near all economists agree:
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””] I include a table of propositions to which most economists subscribe, based on various polls of the profession. Here is the list, together with the percentage of economists who agree: 1) A ceiling on rents reduces the quantity and quality of housing available. (93%) [/perfectpullquote]Or, as has more memorably been said:
[perfectpullquote align=”full” bordertop=”false” cite=”” link=”” color=”” class=”” size=””]Myrdal stated, “Rent control has in certain Western countries constituted, maybe, the worst example of poor planning by governments lacking courage and vision.”3 His fellow Swedish economist (and socialist) Assar Lindbeck asserted, “In many cases rent control appears to be the most efficient technique presently known to destroy a city—except for bombing.”[/perfectpullquote]Still, guess we’ll have to give Sadiq Khan at least some credit. He’s only going to bomb London housing through bad policy in the pursuit of votes rather than actually get out the ammonium nitrate.
He could destroy London? Gimme a minute, I need to think about that.
Ruminating on “could”?
In 2010 Mr. Khan as a Labour government minister produced a report arguing against rent control. Something must have changed, perhaps that the leadership of the Labour Party is likely to change sooner than later?
I say let ’em get on with it. There’s no other way they’ll learn.