Tuesday , March 26 2019
Home / Tag Archives: price controls

Tag Archives: price controls

Alan Krueger RIP

Shocking news today: Noted Princeton University economist Alan Krueger died this weekend. He was only 58 years old. Alan was the chairman of President Obama’s Council of Economic Advisers from 2011 to 2013. He was also co-author, with David Card, of the famous book that challenged the conventional wisdom on the effects of moderate increases in the minimum wage. Here’s an excerpt from my pretty critical review of their book. Note that he was no fan of the current...

Read More »

Alex Tabarrok on the kidney market

Bob Murphy has a new podcast interview with Alex Tabarrok. (As Tyler would say, self-recommending.) One of my favorite segments discussed the shortage of kidneys for transplant, a topic I blog on quite often. Alex pointed out that the kidney shortage could be eliminated if there were suitably strong incentives for people to donate kidneys. And since the US government already pays for kidney dialysis, which is more expensive than kidney transplant, this sort of program...

Read More »

Van Doren on Payday Loans

The Consumer Financial Protection Bureau (CFPB) recently proposed the elimination of new payday lending rules created under the Obama Administration and imposed in 2017. Payday lenders are frequently vilified—a recent New York Times editorial declared that the CFPB “betrayed financially vulnerable Americans last week by proposing to gut rules…that shield borrowers from predatory loans”—but recent evidence indicates that the predatory costs of payday loans may be...

Read More »

The gig economy, minimum wages, and unemployment

Although the gig economy still employs only a tiny share of American workers, at the margin it might help to explain the relatively strong labor market. Today, an unemployed worker has an option not available as recently as 2000—working as an Uber driver. This may reduce what is often (and misleadingly) called “involuntary unemployment”. Of course governments cannot leave well enough alone. Soon after the ride sharing companies began breaking up the government-created...

Read More »

Is Setting a Price on Drugs the Same Thing as a Price Control?

An economist friend emailed me last night to ask me to sign a statement against the price controls on drugs that the Trump administration is proposing for Medicare. I said no. The reason is not that I am suddenly in favor of price controls. The reason is that what Trump is proposing is not price controls. It’s simply the feds trying to get a better deal on Medicare. As I understand current law, if a drug is approved for use for Medicare beneficiaries, Medicare must...

Read More »

It’s time to fill out the ‘Fill-in-the-Blank Price Gouging Form’ for Hurricane Florence – Publications – AEI

AEI It’s time to fill out the ‘Fill-in-the-Blank Price Gouging Form’ for Hurricane Florence Using the blank “Fill-In-The-Blank Price Gouging Form” above that I learned about from Art Carden almost ten years ago, I’ve filled out the form below for Hurricane Florence based on various news articles including this one reporting that the North Carolina Attorney General’s is investigating more than 500 complaints that some local businesses are engaging in...

Read More »

Joke of the day on prices and price controls…. – Publications – AEI

AEI Joke of the day on prices and price controls…. …. is from Mike Munger’s article “Three Undeniable Problems with Anti-Gouging Laws” on the American Institute for Economic Research website: A guy goes into a store, to buy some milk. But the milk is $8 per gallon. So he complains to the owner: “$8! That’s too much!” The owner replies, “So, buy it at the store across the street. That guy is only charging $4.” The buyer shakes his head, “I can’t, he’s out of...

Read More »

It’s time to start filling out the ‘Fill-in-the-Blank Price Gouging Form’ for Hurricane Lane – Publications – AEI

AEI It’s time to start filling out the ‘Fill-in-the-Blank Price Gouging Form’ for Hurricane Lane Using the blank “Fill-In-The-Blank Price Gouging Form” above that I learned about from Art Carden almost ten years ago, I’ve filled out the form below for Hurricane Lane based on a news report that the Hawaii Department of Commerce and Consumer Affairs is investigating complaints in Honolulu that some businesses are engaging in “illegal price...

Read More »

Want more affordable housing? Build more housing, don’t impose government rent controls – Publications – AEI

AEI Want more affordable housing? Build more housing, don’t impose government rent controls According to a recent Wall Street Journal article (“Rent Controls, a Bane of Landlords, Are Gaining Support as Costs Soar“), rent control is making a comeback in response to rising housing prices rise in urban areas across the country in states like California, Illinois, Washington, and Massachusetts. Megan McArdle responds in a Bloomberg View op-ed “Rent Control Needs...

Read More »

Great moments in government regulation: Meijer charged by Wisconsin price police of hurting consumers by charging too little – Publications – AEI

AEI Great moments in government regulation: Meijer charged by Wisconsin price police of hurting consumers by charging too little From the editorial in today’s WSJ “These Prices Are a Steal—and in Some States, That’s Illegal” by C.J. Szafir and Patrick Gleason:  When Meijer opened two stores in Wisconsin, the state demanded it charge more for dog food. Are low prices putting your family at risk? Believe it or not, some regulators seem to think so. Twenty-six U.S. states...

Read More »