Aug 23 2024 14 mins
In this episode of the Emerge Dynamics podcast, David and Eric dive into the topic of price controls, examining their historical context, economic theory, and practical implications for business owners. They discuss how price controls, often instituted by governments, impact supply and demand, leading to market distortions and shortages. Using examples such as the dairy industry and historical references from the 1970s, the hosts explain how such policies can hurt vulnerable populations and business owners. They also provide insights on how business owners can prepare for and react to potential price controls, emphasizing the importance of awareness and political engagement.