Should the government control the price of food and gas?

Should the government control the price of food and gas?

Economy, Price Controls: Should The Government Control How Much Food And Gas Cost? - Cnn

1/18/2022 4:04:00 PM

Should the government control the price of food and gas?

People are paying a lot more for food, gas, cars and services, and inflation isn't over yet as the pandemic continues to distort the economy. So should governments consider setting the price of essential goods?

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Tell me you're a Communist News Network without telling me you're a Communist News Network. No That’s communism so NO yes guys, you should totally try it Now CNN reached a new low, Publishing news with topics that supposed to be discussed only socialist and undeveloped countries Let them try. Noooo. Freedom first.

Whoever wrote those article should off themselves NO

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No. No way!!! The government should never have control over what is now a free marketplace. There are however, laws in place to ensure price gouging doesn’t occur. no entiendo No, but they should be more responsible and control their own spending. Umm, fuck no? No the government don't need to control food and gas THE government cannot control what's on it's plate as it stands now are you kidding look around at government works it's a Mess

Are you still pretending that the shutdowns didn't create the supply chain problems and inflation? The answer to 'should someone control?' is never 'govern us harder.'

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Hell no Is this a serious question someone thinks this would be a good idea? No this is not China! STOP, the Government needs to control as little as possible are you people crazy? Nothing like good ol price controls to give you lots of starvation and lines. Not the good lines, lines to wait in for gas, food, clothes. Like it's black Friday and you've camped out for a week for that PS5, but this time it will just be normal stuff you campout for.

Stop No 🤡🌍 Why But coming from a communist company like yours. Its understandable you want government control.

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CNN going full commie CNN comunista Sounds like communist propaganda to me It’s called subsidies. They already do control prices. Nazi America 🤡 Socialism is really knocking on US' door. Who would've thought. Sad. What kind of question is it...? Of course they shouldn't

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I’d love to see it! I dare you do it Mr and Mrs Government!! Going to get some popcorn and enjoy the show (if I can still get popcorn by that point). pricecontrol geniuses NO! We would then STARVE because everything would cost so high. utterly dumb idea. source-history and world events I see there will be plenty of employment opportunity for ageing economists from ex-Warsaw pact countries and Yugoslavia in the future...

If only there was a better money we could use that say had a fixed supply of 21 million 🤔 Should the citizens control how much government officials get paid? Hahaha

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Lmao, nope Can you JUST REPORT the news? Is that asking too much? And actual facts, not quoting people. 'Should the government control the price of...' How did that work out for the Soviet Union? How? Farmer raises sale prices because machinery and fertilizer cost have gone up. Is government then regulating price of Machinery and Fertiliser? But machinery and fertiliser prices up because steel and sulphur have gone up. Is government then regulating steel and sulphur?

Google Venezuela and learn some history. The answer is NO! The fact that you have to even ask this question, shows how hopeless you are as a news organization! Of course not! That's socialism! Are you crazy! WTF! Man, I thought I knew how dumb CNN viewers were, but holy shit the reply’s to this tweet are even dumber than I ever expected.

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Yez...they should do it! News flash, they already do You mean like a planned economy comrade? Probably from pure economic standpoint is inappropriate. Communist country they use this strategy but it is against all rules and regulations. Fuck no.. No CNN: Commie Nasty News. It should be controlled once and for all

Like they 'control' the inflation rate or money supply? government needs to stay out, of everything. they can't even run the post office

Should we increase chocolate rations from 30 grams to 25 grams? seriously? are you an kidding? Sadly it already does The government that caused these prices to skyrocket in the first place? Stay tf away! No. No. The government shouldn’t control anything since is owned by central banks. The fed is private and is the one that finance everything debt behind every bill and project. The government is basically a puppet of central banks that want to own everything. Fractional banking scam

No. Dumbest shit I’ve ever heard even from you 🤡

No wonder your ratings are collapsing. That's the literal definition of communism. Nope Sure let them control everything. Then we can call it China West. No. Market structures. Is there a time and need for certain price constraints, yes. What could go wrong!? 🤡 Not the US govt. that system has proven to be a failure.

Yes Yes,especially when you can drive down a long street and see four different prices

Nope. Let demand and supply determine the prices. Don’t they already with subsidies? The government should control the wages and job promotions at CNN China Russia NorthKorea JoeBidensAmerica The government should control as little as possible. Small businesses, individually run, law abiding hard working community people Should control their local laws and their state's rights.

Clearly they control you Government ruins everything it gets its hands on Hell no! This is America They’ve caused the inflation that we’re seeing today through horrific fiscal policy, the last thing i want them regulating the price of food.

The government should control everything because they do everything so good. Results driven AND the people trust them. LOL The government can't even pass laws (1 responsibility) and always miss deadlines with budget and goes into shutdowns. Do we really want to give them more control? Just stop at “should the government control…” The answer is No!

Communism is not the answer Yeah that's worked really well every time it's been done, all over the world. The government can control what YOU eat, CNN… not us Genuinely scary that a major new network in this country would even remotely entertain this idea enough to post an article about this awful idea.

Absolutely not What kinda communism are you cheering for? You mean like Russia? No thanks. Communist News Network.

Is this stupidity something Rex Chapman stole from an 11 year old on tumblr? Only basic food. it helps poor people and stops inflation. how do you help the poor? your country is full of homeless people. but wall street feels good. WE THE PPL R SUFFERING/DYING FROM DEMS' HIGH GAS N ENERGY PRICES/KILL ENERGY/MAKE CHINA RICH N AMERICA POOR, N OUT OF CONTROL INFLATION/RECKLESS SPENDING PORN-INSANITY. in 1yr, dems destroyed our energy independence n econ. dems'-created miseries hurt.

No. Well it already controls CNN and look what happened to CNN. You'll never have a prime rib dinner again. No, that will lead to shortages and uncontrollable inflation Th government should… NO. No

Thats a big FUCK NO! Try voting Republican next time! yoo venezuela did this too, it seems to be going well No, and I think you you should receive violence for even asking. Drugs are bad. Oh no Fudeu vai surgir do nada flanelinhas gordos pra comer a nossa comida Didn't the government print trillions of dollars lol. 'ItS cOnSuMeR dEmAnD tHo!!!!'

No. that will never happen, only seen control price of essential goods and commodities, more than fifty years ago. Governments owned by corporations. all politicians funded by such organizations'.

If CNN falls in a forest and no one is listening, does CNN even exist? I want the Government to also take charge of the importation of drug and also place a ban on open drug market in Nigeria. The good thing is the government would make more revenue from drug Nah What is wrong with you? Seriously? Are you a news outlet or a propaganda outlet?

No “Should the government control…” NO!!! No ❤️ Absolutely not! Name one thing they control that they do better than the private sector. Hell no!!!! We already tried this once and let’s just say in didn’t go well. They always have?

NO!!!!!!! No. NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! This you? .BetteridgesLaw Absolutely not You've lost 90% of your viewers already. Going for 95% now?

They seem to control CNN pretty well, so.... No

Y’all are nuts. What’s your goal? Like central planning used in communism? Remember: it’s bad on purpose to make you click. Yes You seem tomlike them controlling you from behind They already do Should the government wipe my ass for me?

So you want the government to step in to save us from inflation caused by government meddling? I'm sure nothing will go wrong with that plan. The only way this gets fixed is if bad policies are reversed, not by going deeper down the same rabbit hole. Opt out bitcoin Bahahaha ABSOLUTELY NOT. If you want shortages, sure. If you're ignorant of the past, sure. If your understanding of economics is on the level of a toddler, sure.

You mean like in a communist regime? Communism. It doesn't work, we've tried. It’s scary that a supposed msm site asks that question. We’re clearly in the age of the fascist left where they think government should control everything. The government shouldn’t control ANYTHING! Spend One day at the DMV and you’ll see why.

NO

Ifb Not food, but regulate gas for sure. Doesn't it already No the government should control as little as possible. No Yup. What a dumb question. I expect nothing less from CNN . In Russia maybe. Not here. No So if the government isn't controlling prices that means companies are creating all this inflation , right

Fuck no From my body my choice to take the fucking shot or lose your freedom & we will dictate the price of what we decide you are allowed to buy. No. Because THAT would be COMMUNISM. No. But it should appropriately tax company profits, and police cost manipulation. Basic commodities should be controlled, and fuel.

No. But they should prosecute gouging No they should stop printing money. Ummmm no Mmmmm ECHOES OF THE JIMMY CARTER ADMINISTRATION 🤔🤔🤔 HISTORY ALWAYS REPEATS ITSELF AS WE GO BACK TO THE FUTURE WITH OUR BELOVED GOP 🚂✝️🇺🇸🙏🚂👏👏👏 Absolutely fucking not

London (CNN Business) It's been done before, typically during times of crisis, but for most mainstream economists, the answer to this question is a resounding"no." Limiting how much companies can charge will distort markets, they argue, causing shortages and exacerbating supply chain problems while only temporarily reducing inflation. "Price controls can of course control prices — but they're a terrible idea," David Autor, a professor of economics at the Massachusetts Institute of Technology, remarked in a survey published earlier this month by the University of Chicago.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. The Fed is in a high-stakes race to catch up to inflation"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.Read MoreThe 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. Still, with annual inflation running at a four-decade high of 7% and midterm elections approaching, price controls could feature in future debates about how to reduce prices, particularly if actions taken this year by the Federal Reserve fail to tame inflation.People shop for groceries at a supermarket in Glendale, California, on January 12.The problem with price controlsPrice controls can be targeted or imposed on a broad range of goods, setting either a floor or ceiling. The German capital of Berlin, for example, has sought to limit how much rent landlords can charge tenants. In the United Kingdom, regulators limit how much consumers can be charged for energy and some types of rail fares. Economists who are skeptical of price controls often point to basic economic concepts. They argue that capping prices encourages companies to produce less of a product, while making it more attractive to consumers. Supply goes down, and demand goes up, with shortages being the inevitable result.But that doesn't stop governments around the world from resorting to price controls when inflation gets out of hand. As elections approached late last year in Argentina and annual inflation topped 50%, the government froze the price of over 1,000 household goods.Last week, Hungarian Prime Minister Viktor Orban said he would cut the price of flour, sugar, sunflower oil, milk, pork leg and chicken breast ahead of a national election in April, according to Reuters. He also extended caps on energy, fuel and mortgages.'Sick to my stomach': Dollar Tree fanatics protest new $1.25 pricesIsabella Weber, an assistant professor of economics at the University of Massachusetts Amherst, argues that price controls have a role to play in the United States, too, as policymakers try to address inflation caused by the extraordinary circumstances of the pandemic. "Price controls would buy time to deal with bottlenecks that will continue as long as the pandemic prevails," Weber wrote recently in The Guardian, adding that"the cost of waiting for inflation to go away is high." One key to making the policy a success, she wrote, is to remove price caps gradually to prevent a rapid surge in prices.Free market or price controls?There is plenty of precedent for price controls in the United States, but you have to look a few decades back. They were last deployed at the federal level during the 1970s, when former President Richard Nixon established a Cost of Living Council in the summer of 1971 and blocked most wage and price increases for 90 days. The policy was popular with the American public, and inflation slowed temporarily after reaching 5.8% in 1970. But Nixon's subsequent efforts to cap prices were much less successful. The Republican repeatedly tried to freeze prices during the next few years, but inflation surged to 11% in 1974 — exacerbated by the Organization of the Petroleum Exporting Countries (OPEC) declaring an embargo on oil shipments to the United States the previous year. Prices are soaring. How high can they go?Nixon had worked early in his career as an attorney for the Office of Price Administration, which was established during World War II to impose price ceilings on rents and a wide range of products. The price controls were largely effective, but gave rise to a thriving black market. The agency was dissolved in 1947. Limited price controls are also present in the US economy today. Some cities cap rents or the amount landlords can hike them each year, while government agencies limit the price that some monopolistic utilities charge. Modern politicians tend to put their faith in the Federal Reserve's ability to control inflation, but the central bank may struggle to address price hikes that are caused by supply chain issues resulting from the pandemic. President Joe Biden has also taken some steps to combat rising prices by targeting corporations and using the power of his office. He has pledged to enforce antitrust laws and crack down on price fixing by meat processors, an industry that is controlled by just a handful of large firms. Biden has also released oil from the country's Strategic Petroleum Reserves in a bid to reduce energy prices. Meat and energy are both significant contributors to inflation.Price controls, it seems, are still a bridge too far.