Civitas Outlook
Topic
Politics
Published on
January 15, 2026
Contributors
Richard Epstein
Charles C.W. Cooke
Episode
The Libertarian

Trump Flirts with Price Controls

About this episode

President Trump’s recent embrace of economic proposals runs sharply against free-market orthodoxy, exploring three headline-grabbing ideas: capping credit-card interest rates, banning institutional investors from buying single-family homes, and restricting dividends and stock buybacks by defense contractors. Why is a Republican president advancing policies more commonly associated with progressive populism? Drawing on economic history, constitutional law, and real-world market behavior, Epstein argues that price controls, capital restrictions, and politicized contracting consistently backfire, harming consumers, workers, and innovation alike. The conversation situates Trump’s proposals within a broader populist strategy, assesses the political incentives behind them, and warns that ignoring basic economic lessons risks repeating some of the most durable policy failures of the past.

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