Okay, just as I finished posting my last price floor comment I started looking at the different sites that Dr. Tufte has listed to the left. And what I found was a better example of the effects of price floor on buyer, seller, and even politicians. (I don’t think you can comment on your own post, so I am posting again). I found it on The Angry Economist site, and after reading this I too am angry. The link took me to an article written by Walter Williams, the title is "Minimum Gasoline Prices."
Now I am not sure that statutory minimums are the same as the price floors we learned about in class, however after reading the article they seem pretty similar, if not the same. Anyway, in this article Williams talks about how these taxes in the various states are hurting the buyers of gas and helping politicians and sellers. I can’t believe how well this went along with our discussion in class (6/9/2004). Wow, can you believe it…economics really can be found in the “real” world?