Price Controls

In this episode, Murphy clarifies what is right and wrong on comparative advantage.

Kamala Harris claims that she simply wants food prices to be lower. However, her de facto price fixing scheme would create food shortages and raise the real price of food. Of course, when that happens, Harris simply will blame capitalism.

Dr. Jonathan Newman joins Bob to analyze Kamala Harris's proposals against price gouging, and how some mainstream economists defend Government price controls. 

As inflation gets worse in Nigeria, politicians call for price controls and other government interventions. Unfortunately, they never consider the option of free markets. 

Let's abolish regulations.

As the world heads further down the road to trade protectionism and war, Mark takes a look at what Ludwig von Mises dubbed the "Montaigne Fallacy."

In 1959, Ludwig von Mises gave lectures on economics in Argentina, where the economy was in steep decline. In the 1920s, Argentina was one of the world's wealthiest countries, but decades of Peronism and inflation started the country on the long road to poverty.

In 1959, Ludwig von Mises gave lectures on economics in Argentina, where the economy was in steep decline. In the 1920s, Argentina was one of the world's wealthiest countries, but decades of Peronism and inflation started the country on the long road to poverty.

President Biden needs an economics lesson.

Nobel Prize winner Angus Deaton claims that the free market cannot provide adequate medical care. Of course, he goes on to describe government failure but calls it a free market.