If every high school student truly learned the laws of supply and demand, and why government wage and price controls are forever destined to create shortages or surpluses, including housing shortages, unemployment, black markets, and more . . .
. . . we'd be in a lot better shape right now.
Ignorance of the laws of economics underlies vast swaths of unwise and self-defeating public policy.
Chart: U.S. Unemployment and the Federal Minimum Wage
Chart: Effects of Rent Control
Trying to forcibly control the price of anything -- from health care to wages to rent -- is about as successful as trying to legislate the value of pi.
You can mandate that pi equals 3 instead of 3.14159 (etc.), but if you try to build anything on the basis of a mandate that pi must always equal 3, you will see collosal failure.
That is what we have been seeing in many countries of the world recently, the United States included: Massive, trillion-dollar collosal failures, all built on economic ignorance.