Tuesday, July 03, 2007

No widespread fainting spells reported

Policy makers are prone to ignoring trade-offs. So no one blinks when complaints about housing affordability are not traced to the effects that supply has on price and the effects that stiff regulations have on supply.

But Wendell Cox calls attention to a report that shows some U.K. policy makers trembling on the brink of discovering these basic market principles.

No reports (yet) of widespread fainting spells.