The Democratic socialist and Republican populist have teamed up to propose price controls on credit cards. Let’s break down the argument to understand why the Senators are wrong.
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Nicholas Anthony and Norbert Michel
Senators Bernie Sanders (I‑VT) and Josh Hawley (R‑MO) have proposed new price controls on credit cards. They frame the proposal as something that will give the public relief, but it’s hard to imagine “relief” is what people will feel if they have their accounts closed.
