Econobabble: Rent control and market forces

Rent controls reduce rent. Some argue that market forces also reduce rents. So why are the arguments about what happens next so contradictory in these cases?

Richard Denniss calls much of the garbage that passes for economic analysis and commentary econobabble.

But economics is not just a set of analytical tools – it is also a powerful language that can conceal simple truths from the public. I call this language ‘econobabble’, and it includes two things: incomprehensible economic jargon, and apparently simpl…