Why can't you counter inflation with price controls?

Why can't you counter inflation with price controls?

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Bump

Seems like that just shifts the loss-of-value burden onto the business owner.

Have price controls at every end of the supply/financial chain. Why not?

How? If none of their costs change, how are they affected?

You just end up with empty shelves.
Imagine if everyone went to the supermarket tomorrow and everything cost 1 cent.

What are price controls? Do they just regulate that a pack of gum can be sold for at most $1? Is that a correct example?

>Why can't you counter inflation with price controls?
You should ask Nixon - thats exactly what he tried.

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because of black market dude

Thats not what it means sven. You obviously keep the price roughly where it was & you do it all the way along the supply chain.

Yes. Bunch of ways to calculate what the price should be, it tends towards cost production. And each step of production tends towards the cost of labour & materials, and so on.

Basically, you solve the pricing problem by treating the whole economy as some big set of equations & solving it with a computer. The problem is getting enough information to accurately do that - the problem the commies had (among other lmao). But these days it's little different to how a massive corporation does its internal management, and its actually feasible in principle.