One of the excuses for levying protective tariffs is to protect emerging domestic industries. However, this kind of protectionism, contrary to popular opinion, leaves an economy worse off every time.
Keynesian economists claim that the economy needs at least 2-3% inflation in order to avoid business cycles. But these inflation rates over time are economically ruinous and they actually harm…
Krugman-the-textbook-author says price ceilings have terrible consequences. Krugman-the-columnist says they’re “reasonable.”
Legislating against unfairness in order to achieve “equal” outcomes is like legislating against the wind. While government has little control over outcomes, its predations can make those outcomes worse.