Rep. Alexandria Ocsaio-Cortez, D-N.Y., and 2020 candidate Sen. Bernie Sanders, I-Vt., have apparently decided to try to ban credit cards. Sure, that’s not quite what Ocasio-Cortez and Sanders actually say (they just want to stop the swindlers profiting from excessive interest charges), but that’s the effect of their plan. They argue that interest rates should be capped at 15%. There’s a question about exceptions, but that’s what they mean. If you cap the price of something below the cost of production, then that thing vanishes. No one makes it (who desires to make a loss?) and therefore no one can have it.

It’s quite similar to the Venezuelan policy on food prices. Make chicken nice and cheap with a price ceiling so no one can have any.