Isabella Weber is an assistant professor of economics at the University of Massachusetts Amherst, and she argues in The Guardian that the U.S. implement price controls to fight inflation, which we were assured was transitory … just a blip. She notes that inflation is near a 40-year high but doesn’t seem interested in explaining why that is. She’s more concerned with fighting it, and that way to do it is price controls.

Weber writes:

To use a metaphor: if your house is on fire, you would not want to wait until the fire eventually dies out. Neither do you wish to destroy the house by flooding it. A skillful firefighter extinguishes the fire where it is burning to prevent contagion and save the house. History teaches us that such a targeted approach is also possible for price increases.


Remember last month’s tweet from MSNBC arguing that inflation was a good thing?

It’s a pretty powerful ratio. People in countries that have implemented price controls seem to have some experience in how well they work.