BizJournals Portfolio
Home >   Business Views, Opinions and Blogs >   Business Blogs >   Market Movers >  

Towards The Command And Control Economy

Market Movers

by Felix Salmon
Main
Free Zimbabwe's Banks!   The Problems With For-Profit Microlending

Recent Blog Posts

Links

Jul 31 2008 6:53am EDT

Towards the Command-and-Control Economy

On a day when David Weidner jokingly proposes the "no-loss sale" rule (no selling a stock for a price lower than the last trade), Barry Ritholtz has anecdotal evidence that Wachovia, for one, is refusing to let its clients short Morgan Stanley or any other entity on the no-naked-shorting list - even if they can "get a borrow". It all sounds suspiciously Chinese to me.

But why stop at preventing stocks from going down? Why not try the same thing with things you don't want to go up? Oil, corn, MRIs, school fees, a night at the St Regis -- I think it's time to implement a no-uptick rule here: force today's prices to be no higher than yesterday's price. Inflation would be whipped at a stroke, and Ben Bernanke could slash interest rates with impunity -- what's not to love?

. □

Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.


Connect With Portfolio.com
Like Portfolio on Facebook

Come on, like us—you know you want to.

Follow Portfolio on Twitter

Follow us and if you're an innovative entrepreneur, we'll return the favor.

The Mix

Today's top stories, conversation starters, and the back nine business bites.

spotlight on

Slideshows

500 Startups Hits New York

Dave McClure's brainchild makes its way to New York and introduces East Coast money folks to some intriguing new companies. View Slideshow