No less a light than Albert Einstein is reported to have said that the “definition of insanity is doing the same thing over and over again and expecting different results.” That quote has always seemed more apocryphal than accurate to us, but it’s a good definition regardless of who first uttered it.
Exhibit “A” appended to that definition might be New York City’s “emergency” housing Rent Stablization Law, adopted for the first time in 1969 and renewed eleven times since. The RSL controls how much rent the owners of rent-stablized apartments may charge their tenants (you know, to keep poor folk like Faye Dunaway in their apartments). The city’s justification for the RSL is to deal with a series of housing “emergencies” (initially, the “effects of war and the aftermath of hostilities,” and then any rise in the city’s vacancy rate above 5%), and to allow a “transition from regulation
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