Comment on Kamala Harris’s First Policy Proposal Is Economically Illiterate | National Review
jimbolauski@lemm.ee 3 months agoAlso, 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.
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.
I_Has_A_Hat@lemmy.world 2 months ago
Depends on the crop and the farm. Subsidies for domestically grown/sold food? Yes, I’m all for subsidies.
Subsidies for things like alfalfa that is mostly shipped out and sold over seas? Fuck that. Why are we subsidizing China’s economy. We are essentially paying for them to steal our water supply.
jimbolauski@lemm.ee 3 months ago
Farmers have been vilified by the left so they are out to get them. They don’t take time consider what would happen if farm bills were removed.