Petro Price Caps Boost Prices in Hawii

As predicted by Cafe Hyak econoics professors, the "anti-gouging" petro price caps installed in Hawii a few months ago led to higher prices... and elimination of the program, even as world prices increase. John Stossell (a reformed leftist journalist) last night on one of the news programs revealed that the counter-productive (and counter-intuitive) effect of "anti-gouging laws" was one of the hardest myths for him to realize. He discusses this in his new book, Myths, Lies, and Downright Stupidity.