The appeal of price controls
Yes, we all know it's stupid policy and ultimately will create massive shortages, more government power and general poverty. But Kamala Harris is proposing it and there are political realities that we really need to think about.
Price controls come about politically because they are popular. People like getting stuff for less. In the short term, it makes people happy. They get something that they've been buying without the inflation. Sure, there will be less producers and deep government intervention and eventually scarcity of the product as they go into black markets if at all. But in the short term, when the producers haven't adjusted yet, the stuff looks like it's free and it helps the politician that imposed it.
The last guy to do price controls on food was Richard Nixon, and he had to do it because he suspended dollar convertibility. He had an election to win in 1972, so he implemented price controls. And guess what? He won in a landslide, because he mitigated the effects of the abandonment of the gold standard through price controls.
Long term, the price controls were a complete disaster. Theere were long lines at the gas stations, inflation went into hyperdrive and the productivity of the 70's was completely lost to stagflation. But it got him the election.
So while Kamala's political positions look stupid from the Bitcoiner point of view, don't underestimate its appeal to normies that don't understand economics. It's not as terrible a move as it seems.
Kamala promising price controls == Kamala is desperate and willing to win the election at any cost to the people
👏👏👏 Exactly, majority of people don’t understand price controls and all they care is about “fixing” their problem today.
Socialism and government controls look great to the lazy and ignorant, who account for high percentage of the people in the world today.
Don’t underestimate Kamala proposition.
So, ____ is desperate to win an election and is saying ______, which doesn’t make sense in reality, but sounds good and gets some votes. But TAYLOR, and NFL, and those scary people not like us…
Appreciate you providing more detail and still think 99% don’t understand. By Design.
If she manages to become President and tries to push this idiotic policy, I hope Congress stops it from happening!
If either uni-party candidate gets elected, it is just a question of how screwed we are.
With #kennedy24, at least there is a degree of hope.
promising lower prices by any means is a winning election strategy
Basically proof that most democratic models don't work as people fall for stupid promises which hurt them in the long run
US citizens should think twice, Kamala body language says it all, arrogance and feeling herself above the individual. The better candidate is RFKJr, listen to his speeches and Nicole Shanahan speeches, surely there must be a reason why the other candidates don’t want to debate them? try to find out!
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Very well said, once they win the elections they can start blaming the "speculators", "farmers", etc. for their failed policies.
Price controls will result in the same outcomes. More pain for the general public. The only solution is to stop government overspending. Stop printing money and abstract and indirect taxation on the general public.
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