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> Windfall profits tax is a start, but what they do with the profits they collect is another. No one likes price controls, but taking short-term action or maybe
by whimsicalism 3y ago
> Windfall profits tax is a start, but what they do with the profits they collect is another. No one likes price controls, but taking short-term action or maybe enacting price stabilization could be very effective.
You are talking gravely serious interventions and I really think you are missing the knockoff incentive effects.
- tootie 3y agoPrice controls have a bad reputation from there enforcement by corrupt and reactionary governments of the past, but there's a very strong case being made by mainstream economists that there's a path to doing it properly: https://www.project-syndicate.org/magazine/inflation-targeted-price-controls-alternative-to-interest-rate-hikes-by-isabella-m-weber-2023-03 https://www.project-syndicate.org/magazine/inflation-targete...
- whimsicalism 3y agoUMass Amherst is a known center of heterodox economic thinking, her views do not reflect the mainstream at all. The problem with price controls is not that the government enforcing them is 'reactionary.'