Politico runs a headline article with this title: "Grocery price gouging to feature prominently in Harris economic plan." See what her plan is believed to include.
She would expand Biden’s focus on price gouging and food costs, according to the plans detailed by her campaign. In addition to her push for the first-ever federal ban on price gouging by food corporations, she would also direct the Federal Trade Commission and state attorneys general to investigate and levy penalties on food companies that violate the federal ban, the campaign official said.
The food production, distribution, and sales system today does a pretty good job. Mostly when I buy groceries, what I want is there when I want it, even if the price is up.
Let's explore what such federal regulation of our food supply would entail. For starters, a sizable bureaucracy to examine the practices of food producers, wholesalers, and grocery stores. In order for the bureaucrats to keep track of what is happening, enhanced record-keeping and reporting by all levels of the food production, distribution, and sales system. Presumably claimed expenses would be audited and questioned. All of the above costs money and would make food more expensive.
All the various levels would be pressured, one presumes, to cut costs and do what they do cheaper. When these efforts don't work, expect price controls. Price controls normally result in shortages as there isn't much incentive to produce or try to sell more.
I know more about markets than the production and distribution system so lets think about what will happen to your supermarket. Expect them to be open fewer hours, carry fewer items in fewer sizes, experience more product outages, and to emphasize any parts of their operation which are not subject to federal control, at the expense of the controlled parts. For an example, a Super WalMart might devote fewer square feet to groceries and more to clothing or hardware.
As government control increases, expect a visit to the market to more closely resemble a visit to the Department of Motor Vehicles. Lots of lines, waiting, empty shelves, and scarce, disinterested staff, I predict you will like it far less than you do now.
