Who Pays for Inflation?
KPFA - Against the Grain
00:00
The Problem With Wage and Price Controls
No one has ever introduced price controls without also introducing wage controls. The idea is to kind of freez the status called distribution of the income, so there's no struggle over who 's going to pay. So this would be imposing prices, fixed prices, on certain goods or services and across the economy. Price control can make more sense in the oil sector or the housing sector, for example, or around food? But those things are difficult. They raise larger questions about how the economy works and who controls production. We should approach this question through the spectrum of addressing inequalitie.
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