Posted on 01/04/2022 9:28:18 AM PST by JV3MRC
Inflation is skyrocketing, so let’s make matters worse! That seems to be the logic behind the “price controls” New York Magazine is promoting as a serious idea to fight off inflation.
In a piece headlined, “Who’s Afraid of Price Controls?,” author Eric Levitz made the argument that the “widespread tendency to dismiss price controls of any kind as economically illiterate, while defending interest-rate hikes as economically wise, reflects custom more than reason.” But Levitz spent a major portion of his argument undercutting himself. He noted that a similar case made recently in The Guardian was considered “tantamount to a declaration of economic illiteracy” by lay observers and policy wonks and “fatally undermined by its brevity and dearth of detail.”
Levitz’s argument was simply an attempt at convincing readers that price controls shouldn’t be dismissed because the Federal Reserve’s “existing approach to managing inflation [ — raising interest rates —] has plenty of hazards of its own.”
(Excerpt) Read more at newsbusters.org ...
Lets cap the salary of “journalists” at $40K.
$40K is way too much.
Two words: Rent Controls.
How’d those work?
Well ... it didn’t work last time, ... but ... we have really smart people in charge this time ... they went to, like, Ivy League schools and stuff ... so ...
Supply and demand. Eco, I bought 22LR ammo for 2.9 cents and happily sold some at 25 cents when the market demand changed. Used that money to buy a new gun. No different than Lowes adjusting price for market and future nventory.
RATS aren’t smart enough to understand the business model of a lemonade stand...
In NYC, you need $80K just to be able to rent a crappy apartment with no parking.
It's not about what they paid for the product, it's what it will cost them to replace it. When lumber supplies stabilize they will be forced to sell product they paid a premium for at market price.
“Price Controls” is a euphemism for “Unavailable”.
Ahem. Pardon me. But how would price controls work when inflation is caused by the deflation in value of dollar, not necessarily the price of goods??
The “government” is subservient to the Federal Reserve.
New York Magazine is, has been, and will always be silly and irrelevant.
Will there be price controls on hookers too. Curious minds want to know.
Ask Hunter...
I have such a low opinion of journalists at this point that $40K still sounds like too much. They can live in a van down by the river...
Price controls reduce supply. Smart.
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