Tim Stanley says price controls have been a staple of U.S. economic policy since World War II. He argues it's impossible to renormalize them in this moment of crisis. The idea is offensive to American ideology about private power in the economy, he says. But somehow there's no substitute for war in making people powerful do things they would not have done otherwise right? We're in a fake war with China and we have a kind of fake industrial policy that applies to price controls too - Stanley.
Featuring historian Tim Barker on the state of monetary politics amid the current fight over inflation.
Check out my July 2021 interview with Barker if you want a more expansive primer on inflation thedigradio.com/podcast/inflation-politics-with-tim-barker
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