Do Price Controls Work? | EJ Antoni

Heritage Explains

Heritage Podcast Network

Education

4.6 • 808 Ratings

🗓️ 21 August 2024

⏱️ 15 minutes

🔗️ Recording | iTunes | RSS

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Summary

In response to inflation, Vice President Kamala Harris has proposed instituting controls on the prices of household goods and groceries. The question is, will these proposals work? Heritage Foundation economist and Research Fellow EJ Antoni joins the podcast to explain.

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EJ Antoni on X: https://twitter.com/RealEJAntoni

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Transcript

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0:00.0	Three, two, one, zero, all engine run.
0:06.9	There is no other institution that has the ability uniquely.
0:11.6	Without a heritage, every generation starts over.
0:14.7	Ask not.
0:15.6	To remind the current regime.
0:18.0	We the people tell the governor what it is allowed to do.
0:22.5	All, all,
0:24.2	actually to get back in their box and stay there.
0:28.3	Lift-up.
0:29.2	We have a left-down.
0:32.1	From the Heritage Foundation, this is Heritage Explains.
0:46.1	Thank you. Foundation, this is Heritage Explains. Let's say you decide to start a side hustle.
0:49.1	You set up a lemonade stand in your front yard on Saturday.
0:52.8	Your neighbors stop by and with reasonable ingredients and a variety of interesting flavors
0:57.5	all available at a reasonable price of $4, your product gets rave reviews.
1:03.7	By the next Saturday, business is booming, but this attracts the attention of your homeowners
1:08.4	association.
1:10.1	They're concerned that the prices you're charging for
1:12.1	lemonade are too high. In their typical spirit of wisdom, generosity, and economic genius,
1:18.8	they amend the rules of the HOA so that lemonade cannot be sold in the neighborhood for more than
1:24.0	$2. Being a law-abiding citizen, you go along with the change. The following
1:30.2	Saturday, things go great, at least initially. Your neighbors like the idea of paying $2
	...

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