Wouldn’t price regulations be a better solution to all of this
What would that solve though?
I mean say, a loaf of bread is price regulated at $3/loaf. Do we treat it like the minimum wage and let it sit there for 15 years at $3? What about bread producers? After a few years, they’re certainly not getting paid the market price for their production. Is that justified to ensure that bread remains at $3?
The problems of price controls are demonstrated quite convincingly with rent controls versus just building affordable housing: the former doesn’t increase the housing supply which means, even if rent is affordable, some people remain homeless.
What would that solve though?
I mean say, a loaf of bread is price regulated at $3/loaf. Do we treat it like the minimum wage and let it sit there for 15 years at $3? What about bread producers? After a few years, they’re certainly not getting paid the market price for their production. Is that justified to ensure that bread remains at $3?
The problems of price controls are demonstrated quite convincingly with rent controls versus just building affordable housing: the former doesn’t increase the housing supply which means, even if rent is affordable, some people remain homeless.
Idk, how are thinking about it?