• @[email protected]
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    211 months ago

    Are you an economist?

    Or did you just see a supply and demand curve and think that’s all there is to it?

    If you studied economics beyond the 101 level, you’d know the supply and demand curve is a theoretical concept that doesn’t actually exist in the real world because the requirements for it are impossible. Supply and demand most definitely exist, but it’s more of a fuzzy force kind of thing not clean lines on a graph. Realistically, it’s more like fuzzy splotches on the graph instead of clean lines.

    And there are multiple levels to it as well. Cities have to compete with other cities to attract businesses and businesses would prefer to be in a city where they don’t have to pay someone $100K per year to sweep the floors. Which might happen if that’s the pay level required to live in a city. You could get into a yo-yo situation where a city becomes unaffordable, people and businesses leave, causing the rent prices to drop, attracting people an businesses back, causing it to by unaffordable again, etc, etc. This instability comes at an economic cost that’s greater than the inefficiencies caused by rent control.

    You see an economy isn’t just one simple supply and demand curve. You might want to consider that economists might be aware of some factors you aren’t aware of.

    • @[email protected]
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      111 months ago

      an economy isn’t just one simple supply and demand curve.

      Aggregate supply and aggregate demand.

      Boom. Roasted.

      This instability comes at an economic cost that’s greater than the inefficiencies caused by rent control.

      It’s extremely difficult to get someone who only understands Econ 101 to grasp the idea of competing economic inefficiencies. Conservative think tanks have been on a rather successful crusade to ensure that de-regulation is only good. So, it’s difficult to convince someone that higher taxes on “job creators” leads to a better, less expensive life for everybody else.

      • @[email protected]
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        211 months ago

        Yeah and aggregate demand is basically impossible to model because people be crazy.

        And sure, rent control could cause issues in the long run, but in the long run we’re all dead anyway. Other, bigger, problems will likely happen sooner than something like rent control having a significant economic impact.

      • @[email protected]
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        211 months ago

        Except climate change is backed up by data studied and gathered by real scientists the vast majority of which are under no pressure to prove it.

        Rent control attacks are generated by economists. A pseudoscience employed by the banks to create propaganda.

        They are not the same.

      • @[email protected]
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        111 months ago

        The point is to provide relief for those who can’t afford rent.

        Please show me actual economic modelling using real world data of the negative impacts of rent control. You know, something that isn’t just theoretical extrapolations based on the non-existent supply and demand curve done by someone who spent too much time reading propaganda on mises.org

          • @[email protected]
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            111 months ago

            What is that link? So over a decade ago, 40 people that I don’t know indicated their opinion about rent control on a website. That’s your proof? Of what exactly? What was the methodology in which they were selected? Come on, some basic science please!

            At any rate that’s not an economic model involving real world data. It’s just a poll on website that 40 people responded to.

            And I did take Econ 101. And also Econ 201 where they explain the requirements for supply and demand: -Free movement of labour -Infinite number of competing companies -Perfect knowledge -No barriers to entry

            In other words, things that are impossible in the real world.

            Looking at a supply and demand curve and thinking you know about economics is like reading Act 1 of Romeo and Juliet and thinking you’re a PhD in English Literature. Supply and demand is theoretically how things are supposed to work which you learn about in Econ 101. Beyond Econ 101, most of economics is about why it doesn’t work like that in the real world what regulations are needed to approximate something vaguely resembling supply and demand. And sometimes a regulation that moves away from supply and demand in one market can get us closer to a reasonable supply and demand approximation in other markets. As I mentioned before, rent control helps the labour market, which is kinda important.

              • @[email protected]
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                111 months ago

                Ok, so you got nothing but appeal to authority, and the “authority” is a decade old poll that 40 people responded to on a janky website?

                Apparently this IGM forum is something paid for by the Chicago Stock Exchange. I don’t see any indication of the methodology they used to select these particular people. Given the source of their funding, it makes me a little suspicious. $1.5 million to 40 economists to answer an email once a week? Was the Chicago Stock Exchange paying that money for honest answers or were they paying for the answers they wanted to hear?

                And they don’t seem to do any macroeconomic analysis. Methinks it’s just some bullshit meant to influence public opinion. I guess it worked on you.