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Reply to "Price gouging as her first policy announcement? Really? "
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Controlling prices is insane. Look what rent control does. It boosts the price for everyone else. There’s no such thing as a free lunch. That’s the first thing anyone learns in econ 101. Part of the reason DC or Manhattan apartment rent is so expensive today is because of rent control. [/quote] Rent control is a Great example of why price fixing doesn’t work. Why would any developer want to build new housing in an area that has rent control? It disincentivizes risk taking and any profit motive and results in very little new housing. Free market should determine rent prices. If rents are high from high demand more developers would build more housing and eventually reach a balance of supply and demand. If they build too much and oversupply, rents will fall.[/quote] Ok, move along from high school Adam Smith to the real world, where your supply-demand curve isn't academic.[/quote]
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