Brian Albrecht on Government Price Controls
The Pinnacle Gazette
View Original Source
ICLE Chief Economist Brian Albrecht was quoted by The Pinnacle Gazette about Vice President Kamala Harris’ proposal to impose price controls. You can read the full piece here.
According to Brian Albrecht, another economist, allowing the government to define “fair” prices can lead to substantial market control, dangerously edging toward price control. Historical instances, like during World War II and the 1970s energy crisis, show price controls often lead to shortages and market disruption.