By Jonathan Newman
Krugman-the-textbook-author says price ceilings have terrible consequences. Krugman-the-columnist says they're "reasonable."
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By Jonathan Newman
Krugman-the-textbook-author says price ceilings have terrible consequences. Krugman-the-columnist says they're "reasonable."
he knows who butters his bread
Price controls for an industry with razor thin profit margins.
Kroger margins are less than 2 percent.
Its so obviously pandering to low information or low IQ voters. Anti gouging sounds good. And she cares... Dumb stuff but it works on many people.
This is like a microcosm of everything wrong in politics, democracy, and fiat.
Krugman is an elistist that has benefited nonstop for modern monetary theory. Not a fan of him, surprised he is still listened to as much as he is.
Krugman is so ridiculously partisan and captured he would probably say gulags are a great idea if the Democratic Party suggested them.
Usually you don't see "They aren't doing that" and "Actually, it's a good thing." in the same piece.
"California energy crisis circa 2001, when power producers reduced supply to drive up electricity prices.” This is so crooked.
Welcome to the world of government granted monopolies.
I didnt know it was that bad in california. I just knew their energy sector had problems creating wildfires.
That was over 20 years ago. My impression is that things have only gotten worse since then.
We need to ask some of the resident experts. If I recall, bellcurve is one of them. Im sure it has gotten worse, and the fires in the west coast seem to have gotten worse each year.
Several of those fires have been started by incompetent management of those utilities.
@Bell_curve seems to see everything that happens on SN, but I'll tag him just in case.
It was just a matter of time before he read the comment. Mismanagement and lack of awareness. I find it weird that there are so many fires over there, but not in the midwest.
The midwest has far less forest and is far less arid.
Incompetent management is the biggest factor.
Man made fire problems are blamed on climate change. Proper management includes forced burning and/or cutting trees. A lot of left wing enviromental professors recommended this in 2003. I haven't kept up with the literature since.
The state has phased out oil drilling and nuclear plants; the next target is natural gas. Hydroelectric plants and dams are also being dismantled. The goal is to get all energy from solar and wind (an impossible goal).
edit: Trees consume too much water. The best part about California is fake not real trees.
The problem in 2001 was market distortion caused by the state: power companies could had a ceiling for consumers (price control) but no ceiling for wholesalers (gouging).
Brave search ai has a decent explanation...
https://search.brave.com/search?q=california+blackouts+2001+explained&source=desktop&summary=1&summary_og=3dfa5b2508914295e93092
Someone is still listening to this "economist"?
Cultists need "thought leaders", since they're trained to not think for themselves.
Amen!