Sunday, January 16, 2011

Rent control did what the US bombers never could

...destroy Hanoi: Great quote former foreign minister of the Socialist Republic of Vietnam:
"Addressing a crowded news conference in the Indian capital, Mr. Thach admitted that controls...had artificially encouraged demand and discouraged all the houses in Hanoi had fallen into disrepair.

"The Americans couldn't destroy Hanoi, but we have destroyed our city by very low rents. We realized it was stupid and that we must change policy," he said"

Hat tip: Jeff Smith

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