Unbound by the lessons of a hundred years of history, Vice President Kamala Harris is promising stuff.

Actually despite running a campaign that acts like she’s some new arrival, trying to blame companies for raising prices, instead of inflation, was the Biden agenda.

And nobody bought it then.

Most people don’t especially like or trust corporations, but they’re also not so stupid as to think that corps became greedy overnight. They weren’t greedy in 2019, but they suddenly turned greedy in the last 5 years and keep raising prices for no reason. And the market just can’t correct for it through competition.

But this time it’s coming from a whole new ‘unbound’ candidate, so will they buy it now?

Kamala appears to be pitching price controls which is the usual response by socialist governments to inflation. Venezuela tried price controls and devastated its entire economic system. But some might say that’s a feature, not a bug. Eliminate the infrastructure of capitalism and you end up with no alternative to government. Also mass starvation, riots in the streets, and a regime kept in power by the police. These days two out of three could apply to the UK.

Trying to stop inflation through a ban on price increases is like trying to stop a ship from sinking by banning anyone from noticing the water coming through the floor.

And paradoxically the administration, the campaign and the media (but I repeat myself) are insisting that inflation is fine and that they’re going to fight it through price controls.

Which is it?