OK, LBO'ers. The conservatives say that price caps are only a short-term fix, that, under price caps, the price tends to rise to the capped price and stay there, and thus costs more. Plus, under price caps, out of state suppliers may stop selling to California if they can get higher rates elsewhere. What's a good Leftie rebuttal to this? Bob Morris
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I suspect it's worse than that, if the old Nixon price freeze was any example. Prices rose to the cap immediately, and this became the default mimimum. Then extreme pressure built up under this ceiling. The minute Nixon relented, prices exploded in a panic to reclaim `lost' time to catch up to their pre-cap increasing rates and over take them.x
The real answer is strong central govt authority, general resolve among the people that capitalists will heel under the boot of govt and popular will---and slackers get the terminate with extreme uncion option (double-click stalin icon, select properties, click add or remove, then click okay---restart computer).
Chuck Grimes