The market doesn't "decide," price controls don't work because the price is a result of voluntary market interaction. It's a thermometer, not the heat itself.
Price controls are analogous to capping the thermometer and letting pressure build up, while claiming that we've controlled the temperature outside.
Saying "the market decides" is like suggesting we are "letting the weather decide the temperature" instead of the weatherman. When the second statement is just nonsense. The weatherman doesn't control the weather, if he is manipulating the thermometer then its just lying about what the real temperature is.
My proposal isn't about "letting the markets decide," because markets are literally the only thing that create prices in the first place. I'm saying we shouldn't have institutions with the express authority to completely monopolize a market and then lie about the price.
Price controls are simply lies, we should just stop lying.
TheGuySwann / Guy Swann
npub1h8…6rpev
2024-08-19 22:14:46
in reply to nevent1q…m0ng
Author Public Key
npub1h8nk2346qezka5cpm8jjh3yl5j88pf4ly2ptu7s6uu55wcfqy0wq36rpevPublished at
2024-08-19 22:14:46Event JSON
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"content": "The market doesn't \"decide,\" price controls don't work because the price is a result of voluntary market interaction. It's a thermometer, not the heat itself. \n\nPrice controls are analogous to capping the thermometer and letting pressure build up, while claiming that we've controlled the temperature outside. \n\nSaying \"the market decides\" is like suggesting we are \"letting the weather decide the temperature\" instead of the weatherman. When the second statement is just nonsense. The weatherman doesn't control the weather, if he is manipulating the thermometer then its just lying about what the real temperature is. \n\nMy proposal isn't about \"letting the markets decide,\" because markets are literally the only thing that create prices in the first place. I'm saying we shouldn't have institutions with the express authority to completely monopolize a market and then lie about the price. \n\nPrice controls are simply lies, we should just stop lying.",
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