Birdwatch Note Rating
2025-01-02 00:19:07 UTC - HELPFUL
Rated by Participant: D21D03F43C8B5A259709B778464C3243CBCC9E9AF252DFC3893C1E61CB0C5319
Participant Details
Original Note:
Artificially capping the pay of Uber drivers would make it harder to find a driver, making the situation worse. Price caps have been known to cause shortages for over 1,700 years. https://www.jstor.org/stable/1231968 https://www.thelatinlibrary.com/lactantius/demort.shtml This is because artificially lowering prices prevents supply from matching demand. https://www.econlib.org/a-strange-ignorance-of-the-effect-of-price-caps/
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