Campaign proposals could have unintended economic effects
UC economist tells ABC News that efforts to help Americans could lead to higher prices, scarcity
Government interventions that would attempt to help consumers could lead to other problems, a University of Cincinnati economist told ABC News.
Michael Jones, PhD, assistant professor of economics
Vice President Kamala Harris has unveiled the economic agenda for her presidential campaign, which includes a ban on grocery price gouging, a $25,000 subsidy for first-time homebuyers and child tax credits. To evaluate the proposals, ABC News turned to economists including Michael Jones, PhD, assistant professor of economics in the University of Cincinnati's Carl H. Lindner College of Business.
Jones said Harris’ strategy to deal with inflation through a price-gouging ban could lead to scarcity of goods.
"If there's a restriction on the prices that companies can charge for products, they simply won't supply them," he said.
A subsidy for homebuyers could cause sellers to boost their asking prices, negating any benefit for the buyers, Jones said.
"If they have $25,000 more to spend on a house, they'll submit bids up to $25,000 higher for the home," he said. "That policy in particular is a bad idea because it won't bring the price of housing down."
Featured image at top: A woman shops for groceries with a motorized shopping cart. Photo/Amigo Mobility via Unsplash
Impact Lives Here
The University of Cincinnati is leading public urban universities into a new era of innovation and impact. Our faculty, staff and students are saving lives, changing outcomes and bending the future in our city's direction. Next Lives Here.
Related Stories
Why is there a statue of Stephen Foster in Cincinnati?
June 26, 2026
Even if you don't know American parlor composer Stephen Foster, you’ve probably heard his music. His mid-19th century folk songs, including “Camptown Races” and “Oh Susanna,” make appearances in pop culture to this day. There’s a statue of Foster overlooking the Ohio river in Alms Park that prompted WVXU's Bill Rinehart to feature him in his Cincinnati mysteries segment, OKI Wanna Know. WVXU turned to University of Cincinnati music history expert Kristy Swift for a peek into Foster’s life and impact in the region.
World Cup watch parties unite fans, communities
June 26, 2026
UC Assistant Professor Letisha Brown tells Spectrum News that watch parties for sporting events and entertainment are popular because people feed on others' excitement.
Drone-delivered groceries descending into Cincinnati
June 25, 2026
Walmart is bringing drone delivery to Cincinnati, as reported by 700WLW. Host Scott Sloan spoke with Michael Jones, associate professor of economics at the University of Cincinnati's Lindner College of Business, for a look at what it means for Cincinnati shoppers.