According to wide reporting, Kamela Harris will propose legislation to eliminate “price gouging” by greedy businesses as her key economic policy. Price controls of any sort are always bad, and this is so bad I’m wondering if even Nobel Laureate leftist Paul Krugman will try to justify it (or will he just pick up his own textbook, and “just say no”). High prices are not the result of greedy businesses–I can assure you that businesses would gladly and greedily raise prices if they were able to all the time. The question is why did they get away with it only during the Biden/Harris administration? And as Trump supporters are quick to note, if you could solve that problem in 2025, why aren’t you solving it today?

So the quick dispatch–prices are higher because Demand > Supply. Demand > Supply because Kamala Harris cast two deciding votes to support TRILLIONS of new spending, which the Fed promptly monetized with $5T in new money creation. Classic case of too much money chasing too few goods. The only way to lower prices (unless the Fed engineers outright deflation, which they’re not going to do) is to increase supply. It really is all about supply and demand–Econ 101.

Ms. Harris, I’ll be glad to let you freely audit any of the Plaster School of Business economics classes. Or any of your identified staff. Let me help you. Please!