Also, wage and price controls have been used in the past.
The only time price controls have been shown to work is in the face of monopolies. The rest of the time they have caused problems.
Comment on Kamala Harris’s First Policy Proposal Is Economically Illiterate | National Review
Dagwood222@lemm.ee 3 months ago
Remember back in the day, George H.W. Bush was running for the GOP nomination against Ronald Reagan. Bush called Reagan’s tax cut plan ‘voo-doo economics.’ After Reagan won the nomination Bush was happy to abandon reality for the Veep slot.
Also, wage and price controls have been used in the past.
jimbolauski@lemm.ee 3 months ago
wintermute_oregon@lemm.ee 3 months ago
They ‘worked’ during WW2 but that is an extreme case. That is how we ended up with our insurance working the way it does.
jimbolauski@lemm.ee 3 months ago
Worked as in controlled prices yes, but it did not work for the economy. Rationing controlled demand but as costs to produce went up skimflation was used. Meat manufacturers started filling sausages with crackers and potatoes. Meat producers stopped producing after Congress reinstated price controls after ww2. The biggest problem is that ending price control saw inflation skyrocket in order to catch back up. Farm bills were used to curb this.
wintermute_oregon@lemm.ee 3 months ago
It is funny how liberals don’t understand economics at all. I have seen them call for the ending of farm subsidies.
They don’t seem to grasp, that would create wild swing in the cost of food and the poor would be hammered.
nokturne213@sopuli.xyz 3 months ago
And no new taxes.
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