Price Controls: Still a Bad Idea | Intellections
The disruptive effects of inflation on people’s lives are not to be taken lightly, but responding with price controls fails to provide a long-term solution. The underlying principles driving the change in prices cannot be fixed by blaming corporations for higher costs. Previous efforts to use price controls resulted in shortages far more painful than the inflation they were meant to cure.
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Additional resources:
Read “Price Controls: Still a Bad Idea,” by David Henderson. Available here: https://www.hoover.org/research/price....
Read “Inflation and Monetary Policy,” a Policy Insights edition on PolicyEd. Available here: https://www.policyed.org/policy-insig....
Read “Inflation: What Next?” by David Henderson. Available here: https://www.hoover.org/research/infla....
Watch “The Problem with Wage and Price Controls: Lessons from the 1970s,” on PolicyEd. Available here: https://www.policyed.org/unarchived/w....
Read “The Fed Replays History,” by Michael Bordo and Mickey Levy. Available here: https://www.hoover.org/research/fed-r....
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