Econ 101

The 2023 legislative session saw a torrent of mostly bad policy passed into law. Gov. Walz, among others, called the session “Transformational” and I would not disagree. As I wrote…

Price floors and ceilings — Minimum wages and rent controls Public policymakers often intervene in economies using “price floors,” such as government-mandated minimum wages, or “price ceilings,” like rent controls.…

There is good reason that 81% of economists agree that rent controls are bad policy. The harmful consequences of Berlin's rent controls are just one more example. 

Who will bear the burden of Minnesota's proposed 70% gas tax hike, sellers or consumers? That depends on what alternatives the consumers have.