Hawley’s Interest Rate Cap Charade Will Hurt Working Americans
Washington Examiner
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Julian Morris, senior scholar at ICLE, is mentioned in this Washington Examiner article on how proposed credit card interest rate caps could backfire by limiting access to credit and harming the very working Americans they aim to help. Read the full article here.
It should be no surprise that government-mandated price controls fail to achieve their intended aims in practice, since they make no sense in theory. The tactic yields an “inefficient allocation of goods and services.” A diverse array of commentators, including Vivek Ramaswamy, the Hoover Institution, and the International Center for Law and Economics, agree that price controls are a flawed policy.