History has a short memory. In recent weeks, as Vice President Kamala Harris’s policy proposals sparked a national conversation about price-controls, that phenomenon is on full display. Price-controls have failed humanity for thousands. They invariably create devastating shortages and diminish product quality. These policies decimated Babylonian trade in 1750 B.C. They caused bloodshed in second-century Rome. They nearly starved George Washington’s army at Valley Forge. Within living memory, they also caused an American oil and gas crisis in 1971. Of course, politicians still cannot resist promising their constituents consequence-free price reductions. Harris has come out in
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