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> Any kind of price control seems to make economists very upset, rent control being another example. They're probably upset the same way that climate scientist
by gottorf 3y ago
> Any kind of price control seems to make economists very upset, rent control being another example.
They're probably upset the same way that climate scientists get upset when people dispute climate change; that is, it's a widely-studied phenomenon by economists of all political persuasions with lots of evidence to back it up.
A price ceiling causes a shortage, like cars lining up at gas stations during the 70s oil crisis or the 10+ years of wait time in Stockholm apartments. A price floor causes a surplus, like unemployed workers at the minimum wage.
- AngryData 3y agoThat is not a good comparison. Scientists that disagree with climate change are like a couple percent at max. Meanwhile nearly every economic topic, including price controls, would have double digits of economists disagreeing with it. Economics is not a hard science where you can take anything in absolutes.
- somewhat_drunk 3y agoDisagree. Climate science and economics are quite similar in this context, in that both an economy and a global environment are so massive and massively complex that neither can be isolated and studied in a controlled environment. In such cases, when there does exist a consensus, it's probably correct.