...economics? Price is the fulcrum on which supply and demand seek equilibrium. As supply and demand fluctuate, price goes up and down to maintain the balance. If you artificially set the price the result is always either a glut or shortage. Why do so few people understand this very basic economic principle and believe that government, or the Fed, can cure perceived economic disparities with the wave of their magic wand?
It doesn't necessarily have to be "price fixing" to upset the balance. Minimum wage laws artificially set price. Tariffs and quotas artificially manipulate supply and demand. Socializing costs increases demand and limits competition. Professional licensing also limits competition.
Thanks Bojo, I forgot subsidies.
It doesn't necessarily have to be "price fixing" to upset the balance. Minimum wage laws artificially set price. Tariffs and quotas artificially manipulate supply and demand. Socializing costs increases demand and limits competition. Professional licensing also limits competition.
Thanks Bojo, I forgot subsidies.