No, rent control does not work — it actually benefits the rich and hurts the poor

About 10 years ago, I worked at a glossy magazine in Midtown New York which employed a famous author as one of its senior writers. He came into the office one day, beaming from ear-to-ear. He had just signed an agreement to move into a rent-controlled apartment. For the next several years — as long as he wanted to live there — he would be paying hundreds of dollars less than the market rate for his rent.

Read more: