In an attempt to curry favor with the electorate, Vice President Kamala Harris recently declared support for price controls to combat high prices, which she attributes to supply chain issues and corporate greed.
Today, it often seems that our country’s scope and knowledge of history is reduced to a few platitudes concerning markets that date back no further than the mid-1930’s, or perhaps the 1920’s.
Since the response to Covid-19, the preeminent economic concern of the American public has been, simply put, price inflation.
Wars against the Goths, Allamani, and Sassanids increased military spending dramatically.
Furthermore, they are often accompanied by attempts to correct them with price controls.
Inflation and currency debasement, however, go much further back.
To combat these immoral actors, price controls take center stage.
https://mises.org/mises-wire/denarius-and-dollar-price-controls-then-and-now
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