Economic Illiteracy of the Week?

Via Ted Frank at Point of Law, the House has overwhelmingly passed a price gouging bill that will not help consumers, but on the bright side, is likely to provide a fresh example for microeconomics instructors teaching the consequences of price controls. The award for economic illiteracy of the week goes to the whole House, but special mention should be made for Joe Barton, Head of the House Energy and Commerce Committee, to whom the WSJ attributes the following words…

Read the full piece here.