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Putin quotes Milton Friedman in relation to energy price caps

The Russian president said that at the same time, some nations' leaders and their bureaucratic elite ignore these obvious factors

MOSCOW, October 12. /TASS/. Russian President Vladimir Putin quoted Nobel winner Milton Friedman on the reasons for the shortage of goods in the markets, commenting on the Western idea to impose a price cap on Russian energy resources.

"In this regard, I would like to quote American economist, Nobel Prize winner Milton Friedman: ‘We economists don't know much, but we do know how to create a shortage. If you want to create a shortage of tomatoes, for example, just pass a law that retailers can't sell tomatoes for more than two cents per pound. Instantly you'll have a tomato shortage. It's the same with oil or gas’. Let me remind you that Milton Friedman passed away in 2006 and he had nothing to do with the Russian government and can no longer be branded Russian agent of influence," Putin said.

"These appear to be universal facts. However, some nations' leaders and their bureaucratic elite ignore these obvious factors," the Russian leader added.

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