Listening to the second Presidential debate, I am absolutely appalled with how the candidates are going to "fix" our economic crisis. Both candidates plan to regulate the economy in some way. What really needs to happen in order for the American people to get out of this crisis is for the White House to DE-REGULATE the economy. It is basic economics. The free market will fix itself if government gives it a chance.



Back in the 1960's and 1970's, government put price controls on gasoline which made gasoline the same price all around the country. This may seem like a great idea because it would lower the price of gasoline but the consequences of price controls is shortage. What happened was that only on certain days you could fill up your tank. The way they determined what day you could fill up was by the last number on your license plate. If that number was an odd number you could fill up on specific days and the same went for even numbers. People would line up for gasoline and in the process they would back up traffic. Often times, people would go home without being able to fill up their tank because the gas stations ran out of gasoline.
Once the price controls were gone and the gas stations could go back to using the law of supply and demand, there were no more shortages. People will pay for gasoline because in our society gasoline is essential to survival. Price controls proved to be the worst form of economic redemption.

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