From ancient Rome to the 1970s and now 2024, the truth is clear: price controls don’t work.
Karl Marx famously said that history repeats itself first as tragedy, then as farce.
Vice President Kamala Harris is bringing that aphorism to life by putting price controls at the center of her economic agenda. Despite centuries of evidence that such controls invariably lead to shortages, rationing and general economic dysfunction, Harris thinks her price control scheme will work.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.
Harris’s Farcical Price Control Schemes
Sally C. Pipes
From ancient Rome to the 1970s and now 2024, the truth is clear: price controls don’t work.
Karl Marx famously said that history repeats itself first as tragedy, then as farce.
Vice President Kamala Harris is bringing that aphorism to life by putting price controls at the center of her economic agenda. Despite centuries of evidence that such controls invariably lead to shortages, rationing and general economic dysfunction, Harris thinks her price control scheme will work.
It won’t.
Read the full article in DC Journal.
Nothing contained in this blog is to be construed as necessarily reflecting the views of the Pacific Research Institute or as an attempt to thwart or aid the passage of any legislation.