In a speech last week, Vice President Kamala Harris called for a federal ban on “price gouging” on groceries. From a strictly economic standpoint, there are so many things wrong with this proposal that I don’t know where to begin. But the worst of it isn’t in the policy analysis — it’s in what this pandering says about the chances of a serious discussion of difficult issues with the American voter. Let’s start with the policy analysis. Even without referring to the current situation, there are three well-known problems with a ban on price gouging. First, grocery stores typically have extremely low profit-margins, on the order of 2 percent or less, reflecting their limited pricing po
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