One of the very few pronouncements about policy by Kamala Harris was that she thinks the way to stop the inflation of prices for food (and presumably, other necessities) is federal price controls — empowering officials to go after companies that they deem guilty of price-gouging. The anti-market Left loved it.
Economists, however, understand that inflation is not caused by greed. In this AIER article, David Rose explains the truth to anyone willing to listen. Greed — the desire to maximize gains in business — is a constant. It cannot explain why prices sometimes surge and at other times remain level or even fall. Economists of all persuasions understand that. And Kamala Harris has some economics background. Does she believe the “greed” theory?
Rose writes:
Harris either believes what she is saying, or she doesn’t. Having an undergraduate degree in economics and exposure to highly educated people for many years in her various roles in government, truly believing what she is saying should be impossible.
But if she doesn’t believe what she is saying, then this might go down as one of the most cynical acts of political dishonesty of all time. Even worse than either possibility is that it is a little of both.
Read the whole thing.