Vice President Kamala Harris recently proposed price controls on groceries to stop food companies from “gouging” American consumers. It’s a terrible idea from the Democratic presidential nominee, as many have already pointed out, because price controls lead to shortages and other bad outcomes. It’s also doubtful Harris could push such a policy through Congress.
But before debating the merits, there’s a question about whether food companies are in fact gouging people. There’s been talk about...