Latest / Economics Happy Hour Podcast
Price Controls Are Popular Again
Price controls have traditionally been a policy that economists love to use as an example of unintended consequences, but new survey data suggests voters across the political spectrum increasingly support them. We dig into why both Republicans and Democrats are warming to the idea after years of frustration with higher prices. We also walk through what economic theory and history tell us about shortages, production incentives, and the longer-run effects of price ceilings. Finally, we wrestle with a harder question for economics teachers: if students understand the model but still support the…
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