Matters Of Policy & Politics: Is “Kamalomics” A Return to Price Controls . . . and Counting Matzo Balls?

As Kamala Harris attempts to succeed where fellow Californian Richard Nixon fell short in 1960 – win the White House as a sitting vice president amidst a complicated economy – she takes a page from the Nixon presidency and wades into what government can do about the high cost of goods and services (specifically, food prices). Economist David Henderson, a Hoover Institution fellow and a I Blog to Differ commentator, explains what Nixon attempted a half-century ago and what Harris suggested in her pre-convention economics address. Henderson also explains the difference between price controls and curbing price-gouging plus the economic consequences of the federal government imposing its will on the free market.