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You should read Thomas Sowell. You're not thinking about second and third order effects of policy . Loan forgiveness is like the government offering unlimited s
by pauldenton 3y ago
You should read Thomas Sowell. You're not thinking about second and third order effects of policy . Loan forgiveness is like the government offering unlimited student loans. Can be argued in the short term but has the moral hazard of making college the only viable path to success.
Raising minimum wages and lowering rent is trying to control outcomes at the final level but ignore that raising the minimum wage cuts out the bottom of the market and prices out these low skilled males in the first place. Also legislatively trying to limit the price of housing while having political policies that result in an ever increasing demand for housing and expanding of the city population, while simultaneously limiting the ability to build in a city which limits the ability to expand the supply. You're suggesting "Do something" without looking at the consequences of what those policies are on a second and third order of effect, and not realizing how those "good intentions" make things worse.