Rampell On Harris’s Economic Policy

 [[{“value”:”Here is the Washington Post’s Catherine Rampell on Harris’s price control policy: It’s hard to exaggerate how bad this policy is. It is, in all but name, a sweeping set of government-enforced price controls across every industry, not only food. Supply and demand would no longer determine prices or profit levels. Some far-off Washington bureaucrats
The post Rampell On Harris’s Economic Policy appeared first on Marginal REVOLUTION.”}]] 

Here is the Washington Post’s Catherine Rampell on Harris’s price control policy:

It’s hard to exaggerate how bad this policy is. It is, in all but name, a sweeping set of government-enforced price controls across every industry, not only food. Supply and demand would no longer determine prices or profit levels. Some far-off Washington bureaucrats would. The FTC would be able to tell, say, a Kroger in Ohio the acceptable price it can charge for milk.

…If your opponent claims you’re a “communist,” maybe don’t start with an economic agenda that can (accurately) be labeled as federal price controls.

And here is a primer on Nixon’s price controls announced 53 years ago yesterday. Read Modern Principles for more.

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