Joe Kernen of CNBC schooled Democratic Sen. Elizabeth Warren of Massachusetts on the history of price controls in a debate about the economic policies of Democratic presidential candidate Kamala Harris.
Kernen explained the free market argument against price controls to Warren on “Squawk Box” Friday a day after Harris accepted the nomination for the presidency at the Democratic National Convention.
“I can paint you a picture of how that would work and how it’s worked in the past where we’ve artificially tried to hold prices down, competition doesn’t come in,” said Kernen.
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“If beef is too high, people don’t move to chicken because competitors don’t come in to undercut where the beef prices are. Nothing works when you try to artificially control prices. It’s just a
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