…she is calling, with passion, for universal rent control.
Notes Ben Steil:
It is really hard to believe that this woman has a college degree in economics. She has no understanding of supply and demand economics or how rent control can destroy.
It really appears as though she is one of the most naive advocates of rent controls around. She seems to really believe that she can order rent prices frozen and it will solve all the big city housing crisis.
She should really watch this which takes the thinking process on rent controls to a bit deeper level.
Or maybe, she should just think a bit about what two top-ranking academic socialists said about rent control.
Nobel Prize-winning socialist economist Gunnar Myrdal stated, “Rent control has in certain Western countries constituted, maybe, the worst example of poor planning by governments lacking courage and vision.” His fellow Swedish economist (and socialist) Assar Lindbeck asserted, “In many cases rent control appears to be the most efficient technique presently known to destroy a city—except for bombing.”