Staff Reports
Mark Levin recently took it upon himself to impart a crash course in economics to Vice President Kamala Harris during his Sunday night show on Fox News. This came on the heels of Harris announcing her grand plan to combat inflation, which, in an ironic twist that would make any economist cringe, involved price controls. Price controls, for those who might need a refresher, are about as effective as trying to put out a fire with gasoline, as history has proven. Just take a look at the economic tragedies of the 1970s in the U.S. and more recently in socialist havens like Venezuela.
Even some left-leaning analysts, not known for their conservative leanings, have pointed their fingers at Harris’ plan, calling it a recipe for economic disaster. They described it as a sweeping set of government-enforced price controls that would disrupt markets across all industries, not just groceries. With this approach, the law of supply and demand is tossed out the window, replaced instead by bureaucratic mandates. One can only wonder what a grocery store in Ohio would think when told by a distant government employee what it can charge for milk. It sounds like a recipe for shortages and headaches of epic proportions.
Kamala is applying her extremist ideology to economics. Listen, for free, to the Mark Levin Show podcast now.https://t.co/6eiyIviJ09 pic.twitter.com/zNiO8d8xte
— Mark R. Levin (@marklevinshow) August 17, 2024
Former President Donald Trump didn’t hold back in his critique either, likening Harris’ economic strategy to the dismal policies of Nicolás Maduro in Venezuela. Trump’s assertion hits home—if Harris really believes that more government control will solve economic issues, it’s an admission that her previous policies have led to catastrophe. Under the current administration, price levels have risen about 20% since taking office. A strategy that relies on government intervention to manage prices seems only set to escalate that figure.
Levin’s decision to share a sixth-grade economics test on his show can be seen as an amusing and telling choice. With questions aimed at determining what actually drives prices—hint: it’s not government decree—it’s almost mind-boggling to think that someone with aspirations for the presidency might not grasp this. Levin pulled questions off the internet that clearly illustrated the law of supply and demand, which dictates prices based on market conditions, not whims or bureaucratic oversight.
Throughout the segment, Levin didn’t stop at the economics quiz. He also demonstrated the complexity involved in everyday products using a simple pencil as a prop, breaking it to emphasize his point about government interference. The pencil, made of multiple components sourced globally, showcases the intricate system of supply chains and market conditions. Each step in the process is impacted far more by market dynamics than by any legislative effort. Harris’ suggestion that the federal government can effectively manage such a system is akin to letting an amateur conduct an orchestra.
The prospect of Kamala Harris exerting control over pricing in a country as expansive and diverse as the United States is troubling. Instead of asking how to lower prices, one might consider how much damage has already been done by the ongoing economic policies. If Harris doesn’t begin to understand the fundamentals of how a functioning economy works, there’s a growing certainty among conservative circles that her days in office should be limited. With the elections on the horizon, there’s hope that her economic ignorance can be sidelined for the good of the American people.
