How does presumptive Democratic presidential candidate Vice President Kamala Harris want to tackle high prices?
Cutting red tape? Stop the government from favoring a few companies? Giving us a 100% free market to open competition?
Silly talk! SOCIALISM!! I mean, uh, price control, of course!
*rubbing forehead*
It’s like “fair share.” How do you define “unfairly,” “gouging,” or “excessive?”
No self-respecting economist agrees price controls work, even Democrats and those on the Left.
Besides, Harris won’t provide details. She’ll likely only shout buzzwords to keep the “vibes” going.
Have you seen what Argentine President Javier Milei has done? He’s pulled back the government. Inflation is down (actually down, unlike ours), and housing options have exploded without rent control.
Free markets are a glorious thing, especially since it puts the consumer in control and open competition.
Yes, you want to help out people? Put them back in control.
Economics is not as complicated as people make it out to be.
It also helps to stop spending and watering down our currency.
You don’t even have to research to know price controls don’t work. It’s common sense, which is not so common, unfortunately.
If you don’t allow prices to rise, you risk businesses, especially smaller ones.
The whole point of a business is to supply goods and services. The company needs to make a profit to fulfill its purpose.
If the business cannot make a profit, then it goes under.
It all comes down to one thing: supply and demand.
Supply and demand determine (well, should determine) market prices. Consumers determine demand by choosing what they want to buy. When businesses see their actions, they work to meet the supply.
The consumer also determines the price by telling businesses how much they will pay for the product or service.
The prices could be high at first, but once other businesses see the demand, they will do what they can to meet it.
More competition leads to lower prices. Yes, it does not always happen because the consumer will tell the business how much they will pay for the product or service.
But when the government steps in and instills price control, the markets (not the stock market!!) crash down because supply and demand constantly change. Thanks to the internet and social media, change happens more quickly during these times.
Forcing a company to set a price for a product that is not in demand leads to waste.
How about when the price is too low? Those in the 1970s saw what happened when the government interfered with gas prices. Long lines!
Everything I just wrote is why I look at all the Consumer Price Index report numbers. It takes forever to get my posts up about it because I refuse to regurgitate what the BLS gives us in its shortened summaries.
Doing so was even more critical with the July report because the BLS claimed inflation cooled. All outlets jumped on that, but when you look at individual prices, you still see inflation.
You have to look at every detail.
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