The Law of Supply and Demand

The myth of Oedipus starts off as many Greek myths do.  An oracle prophecizes that a man will be killed by his son.  In order to circumvent his fate, the man orders his son (Oedipus) to be exposed to the elements, to let nature kill his son and keep his hands clean.  Of course, this doesn't work.  Years later, spoiler alert, he's killed by his son.

Like prophecies, many people attempt to circumvent the law of supply and demand.  The law of supply and demand dictates that supply, demand, and price are indelibly linked. If supply decreases and demand remains the same, prices must rise.  If demand decreases and supply remains the same, prices will fall.

It's similar to the Iron Triangle in product management - "Fast, good, or cheap – pick two.”

When demand increases and supply remains the same, prices should increase.  Efforts to hold the price constant don't break the law - it causes the supply to decrease.  The supply is used up and not replenished because it's not worth the supplier to create more supply.

This is the exact scenario that occurs under rent control laws.  When rents are capped, housing shortages occur.

Like the laws of physics, the law of supply and demand is descriptive.  You can't alter, deceive, or ignore the law.  Unintended consequences will occur.

Oedipus wound up killing his father and marrying his mother.  His sons caused the city of Thebes to be destroyed.