"...The last essay in the Washington Post series has a different flavor altogether. Todd Tucker, who is director of governance studies at the Roosevelt Institute, suggests the White House should consider using price controls.
Price controls?!
PRICE CONTROLS?!
You’ve got to be kidding me.
Price controls are a terrible tool for dealing with inflation.
Price controls are a terrible tool for dealing with inflation.
They make no effort to reduce nominal spending.
And they exacerbate supply constraints.
...Price controls are a bad idea.
...Price controls are a bad idea.
But support for them appears to be growing.
In December, UMass Amherst economist Isabella Weber made a case for price controls. And, following the publication of Tucker’s essay, his wife tweeted out praise.
Spousal support is usually unremarkable.
Spousal support is usually unremarkable.
But Tucker’s wife is Heather Boushey, a member of President Biden’s Council of Economic Advisors (CEA)...Read all!
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