Why is it that price controls never work?

To deal with inflation, Diocletian resorted to price control with his Edict of


Maximum Prices... For each product and each kind of labor, a maximum price


was set, and violations were punishable by death. Even with the death penalty


to back them up, why is it that price controls never work for long?Why is it that price controls never work?
Price controls almost never work. The US Government protect Harley Davidson when the employees bought the company from AMC. The thing is that to a great extent compteition is the best form of price control.





A product can only sell at what the market will allow. no regulation will force people to buy (beyond basic need).