When the government imposes a maximum price on a good or service, they have implemented a price ceiling. When the government enforces a minimum price on a good or service, they create a price floor. For example, the minimum wage. Employers legally cannot pay below the set price floor for the labor of their employees (though we know wage theft happens all of the time). A hinderance to free market functioning, price controls are said to create a market distortion. But what if they produce some clarity in the market in the form of a little more equity? Lev and Natalie discuss the pros and cons of price controls, community land trusts, other methods the government could utilize in promoting equity, and Hugo Chavez.
Intro and outro music by Ben Flood
Podcast edited by Natalie Peart