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The Debt Ceiling is Dumb

Slate Money

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The Importance of Price Control in Inelastic Demand

One of the solutions would be some kind of price controls in really important sectors that are inelastic where the demand is constant. My favorite example of price controls is in Mexico where the government sets the price of tortillas. And there's probably like subtler ways to control food costs and food prices like going back to commodities or I don't know, something with grain. So yeah, I mean, it sounds really Stalinistic, I guess, but it could be.

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