The Remnant with Jonah Goldberg
Fair Markets for Me, Protectionism for Thee
May 16, 2024
Join Jonah Goldberg as he delves into the world of prices with guest Ryan Bourne from the Cato Institute. They discuss the inefficiencies of price fixing, challenges in sustaining collusion, unintended consequences of rent control, libertarian views on market intervention, and the ethics of personalized pricing. Explore the economic and ideological divisions within the Republican Party and the cooperative nature of capitalism.
01:25:56
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Quick takeaways
- Rent control policies lead to housing shortages and imbalance in quantity demanded/supplied.
- Minimum wage hikes impact labor costs, leading to benefit cuts and increased work intensity.
Deep dives
Impact of Rent Control on Housing Markets
Rent control policies often lead to shortages in hot housing markets due to holding rents below market rates, causing an imbalance in quantity demanded and supplied. Landlords react by converting properties to condos, selling them, or reducing maintenance. Misallocation of housing occurs, with people staying in unsuitable properties. Decline in property investment affects property values, leading to economic distortions.
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