Acton Institute Powerblog Archives

Post Tagged 'price controls'

Empty store shelves? Thank price controls

The COVID-19 pandemic panic has caused an eerie, post-apocalyptic scene to become commonplace across the country: supermarkets with barren shelves. One would think that this is the time for an intervention to ensure that stores stay stocked with the things we need, but governors nationwide are taking the opposite approach. Continue Reading...

Understanding tax revenue and deadweight loss

Note: This is post #12 in a weekly video series on basic microeconomics. Why do taxes exist? What are their effects? In this video by Marginal Revolution University, economist Alex Tabarrok explains how taxes affect consumer surplus and producer surplus. Continue Reading...

The Ethics of ‘Price Gouging’

After declaring a state of emergency in the wake of Hurricane Sandy, New Jersey Governor Chris Christie issued a forceful reminder to merchants: Price gouging during a state of emergency is illegal and will result in significant penalties. Continue Reading...

Let Them Eat Cheese

Turns out that cronyism hits more than just your pocketbook. There’s a good chance it’s hitting your waistline too. That’s the takeaway from this editorial by Charles Lane. You see, cheese is one of the highest fat foods we eat, and our country overproduces cheese because of government created market distortions. Continue Reading...

Mugabe’s Bread Machine Falling Apart

This made me think of this. From the NYTimes: “Zimbabwe’s economy is so dire that bread vanished from store shelves across the country on Wednesday after bakeries shut down, saying government price controls were requiring them to sell loaves at a loss. Continue Reading...