Vice President Kamala Harris plans to combat high food prices by banning price gouging and blaming corporate greed for inflation. While her plan targets the food industry, which has seen elevated margins since the pandemic, economists are wary. They argue that price controls could lead to shortages and be difficult to implement effectively. GOP candidate Donald Trump criticized the plan as "Communist price control." Economists prefer increasing competition to direct price controls, with mixed opinions on anti-gouging laws during emergencies. Harris's focus on competition could make her plan more appealing to economists.
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00:00It's Benzinga, and here's what's on the block.
00:02Vice President Kamala Harris plans to combat high food prices by banning price gouging,
00:07blaming corporate greed for inflation.
00:09While her plan targets the food industry, which has seen elevated margins since the
00:13pandemic, economists aren't wary.
00:15They argue that price controls could lead to shortages and be difficult to implement
00:19effectively.
00:20GOP candidate Donald Trump criticized the plan as communist price control.
00:25Economists generally prefer increasing competition to direct price controls with mixed opinions
00:29on anti-gouging laws during emergencies.
00:32Harris' focus on competition could make her plan more appealing to economists.
00:35For all things money, visit Benzinga.com.