One thing this post makes me curious about: in the last section, you talk about the effects of price controls on people selling goods, and also jobs. Usually we think of the labor market as workers selling their labor, rather than companies selling jobs. But is there any problem with this inversion? I guess the former view is better when workers are very heterogeneous, whereas maybe in cases where the company cares less about worker quality (like minimum wage jobs) the latter is also viable.
Also, I expect service industries to in general adapt better to price controls, since worker time can often vary more continuously than other products. Although idk how helpful such generalisations are, since there will be many exceptions.
One thing this post makes me curious about: in the last section, you talk about the effects of price controls on people selling goods, and also jobs. Usually we think of the labor market as workers selling their labor, rather than companies selling jobs. But is there any problem with this inversion? I guess the former view is better when workers are very heterogeneous, whereas maybe in cases where the company cares less about worker quality (like minimum wage jobs) the latter is also viable.
Also, I expect service industries to in general adapt better to price controls, since worker time can often vary more continuously than other products. Although idk how helpful such generalisations are, since there will be many exceptions.