We were pleasantly surprised by the story that accompanies this tweet on CNN’s website — the answer seems to be a resounding “no,” although writer Charles Riley tries to give the question the “both sides” treatment. It’s a refreshingly different take from the one recently published in The Guardian, which argued strongly for price controls.

Riley writes:

Asked whether price controls similar to those used in the United States during the 1970s could reduce inflation over the next year, less than a quarter of economists surveyed said they agree while nearly 60% said they disagree or strongly disagree.

“Just stop. Seriously,” Austan Goolsbee, a professor at the University of Chicago, said in response to the question. Goolsbee previously served as chairman of the Council of Economics Advisers under former President Barack Obama.

The attitude toward price controls appears to be similar in Washington, where policymakers have shown little enthusiasm for even targeted or temporary measures despite growing pressure on middle class families that feel the pain of price increases more than the rich.

It’s an idea so bad we don’t think even President Biden has given it serious consideration.

Riley concludes, “Price controls, it seems, are still a bridge too far.”


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