David Asman: Price controls lead to shortages
FOX Business anchor David Asman on critics blasting President Biden over multiple economic crises and Democrats pushing bills to cap price gouging.
After Democrats pushed bills to cap price gouging, FOX Business anchor David Asman told "The Faulkner Focus" on Monday that price controls will lead to shortages.
DAVID ASMAN: It's very simple. Companies won't produce unless they make a profit. That's capitalism. … If you put price controls on what's going up, what you're going to have is shortages. Because what always happens, always, always, whether it's a Democrat who has price controls or remember Richard Nixon had price controls back in the 1960s and 70s. So both Republicans and Democrats and Venezuelans have done it. Every time, everywhere it is done, it leads to shortages. For the very simple reason is companies won't produce if they can't make a profit. Now, in addition to inflation, do we want shortages? We've seen that before.
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