> Even more concerning, Professor Wu doubts whether the ruling team truly understands economics.
> "Price controls cannot solve the problem. I really don't know if they understand this."
Do you agree with Wu's take that they don't understand economics?
In the US, some progressives tend to consider more market-oriented solutions as "neoliberal" and be skeptical of them. I feel like most economics professors would also criticize market-skeptical people as not understanding economics, which sometimes I think is fair, but other times I think people have more sophisticated reasons for not wanting the market solution. What do you think?
> Even more concerning, Professor Wu doubts whether the ruling team truly understands economics.
> "Price controls cannot solve the problem. I really don't know if they understand this."
Do you agree with Wu's take that they don't understand economics?
In the US, some progressives tend to consider more market-oriented solutions as "neoliberal" and be skeptical of them. I feel like most economics professors would also criticize market-skeptical people as not understanding economics, which sometimes I think is fair, but other times I think people have more sophisticated reasons for not wanting the market solution. What do you think?
Great writeup, thanks!