Some people believe that price-controls could never happen in the United States.
However, Kamala Harris made enacting Federal Law to eliminate "price-gouging" a significant part of her campaign for President. The words she chose were slightly different, but she did that to "spin" the message into the most favorable, emotional light.
One of the enormous failings of the Soviet economy was the lack of a mechanism to address dire shortages. Suppose it is the start of planting season and an employee at the warehouse failed to put air and oil filters into the delivery for the tractors. In a market-economy, the maintenance boss would call around to other farms to see who had extra filters. Then he would hand a trusted mechanic whatever amount of money it took to buy the filters and the keys to a truck.
24 hours later, the tractors would be out in the fields planting...even if the maintenance boss had to pay a three-hundred percent mark-up.
The same thing happens in every ice-storm in Michigan. Ice-storms might be 300 miles long but they are rarely much more than 50 miles wide due to the narrow temperatures which allow them to happen.
All of the generators at the big-box stores sell out in a heart-beat due to power-outages.
Enterprising people hop into their pickup trucks and drive 75 miles to Indiana or Ohio and buy as many generators as will fit in the bed of their truck. Then they go back home and put an ad in Facebook Marketplace "GENERATORS, New in Box" and list them for twice the normal selling price.
If any are left, they drive them back to where they bought them and return them for a refund.
So, if you basement is flooding because your sump-pump isn't pumping, or if you have an emotionally fragile kid going bananas...you cheerfully pay an extra $600 to have a generator delivered to your door while you calm your kid and keep humping buckets of water up the stairs and dumping it outside.
Let me offer a third example: Suppose there was a petroleum tank-fire on the west coast. Allowing the price of fuel to free-float would price "marginal uses" out of economic reach. Manuel cannot afford to drive to his landscaping job and more business gets done via Zoom. If legislation and legal entanglement cripple the price mechanism, Manuel and Vern drive until the remaining tanks are empty and then ambulances and emergency generators fall silent for lack of fuel.




















