In 1973, President Nixon capped the price of gasoline for consumers, and rationed when they could buy it during the energy crisis. The result was predictable: long gas lines and station operators that rationed supply. Consumers paid more, but in different ways. It’s also the predictable outcome should the Loan Shark Prevention Act, proposed by Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez, come to pass. Price caps always hurt the very consumers they are intended to help. Dig into today’s history and economics lesson rolled into one. …see more