Larry Summers

While well-intentioned, price controls often lead to shortages and reduce the incentive for companies to produce the very goods that we want to become more affordable. By distorting the market mechanisms, we can end up making the situation worse, particularly in the long run.

It’s imperative that we maintain a collective societal commitment to social security. Leaving individuals to manage their own contributions could lead to insufficient savings for retirement and increase poverty among the elderly. Government oversight ensures both fair contributions and equitable distribution to protect all citizens in their later years.