Instead of meeting with the executives of credit card issuers and sactimoniously lecturing them about not raising rates, as he is doing today,  President Obama would serve card holders more effectively by meeting with economists and listening to their concerns about the dangers of price controls on credit card services. Economists from all schools of thought — from Keynesian to supply-side — recognize the basic principle of microeconomics that price controls lead to shortages of  commodities, including credit, and cause distortions that…

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