Trump was right about price controls until he endorsed them - The Washington Post
The Washington Post • • business
Key Points:
- Vice President Kamala Harris proposed a ban on "price gouging" in her first major economic speech during the 2023 campaign.
- Economists, including Jason Furman from the Obama administration, criticized the proposal as "not sensible policy," warning that price caps could reduce supply and cause shortages.
- Donald Trump described the plan as "SOVIET Style price controls," a characterization seen as somewhat exaggerated but highlighting concerns about government intervention in pricing.
- Experts broadly agree that price controls can discourage new companies from increasing supply, potentially leading to market inefficiencies.
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