In case it isn’t obvious, this is almost certainly Galbraith’s justification for price controls. I mean, I can’t speak for him, but I’ve read his stuff; this is the kind of reason he would have. Since someone has to take the losses from inflation, price controls are a way of forcing owners to own their risks.
In case it isn’t obvious, this is almost certainly Galbraith’s justification for price controls. I mean, I can’t speak for him, but I’ve read his stuff; this is the kind of reason he would have. Since someone has to take the losses from inflation, price controls are a way of forcing owners to own their risks.