The Case For and Against Price Controls
Price controls tend to reappear at the same moments in history: sudden inflation, war, supply shocks, housing shortages, or sharp spikes in the cost of essential goods. When prices rise fast, the political pressure to “do something” intensifies. Capping prices can look like the most direct intervention available—an immediate signal that the state is protecting […]
Inflation and Monetary Policy Through a Hayekian Lens
Inflation debates often begin and end with a single number. A monthly index moves up or down, commentators argue about the “real” rate, and policymakers promise to bring it back to target. From a Hayekian perspective, this fixation on aggregates misses the central issue. Inflation is not only a change in an average price level. […]