John Hood Proposes Market-Based Agenda to Combat Rising Costs

John Hood, a board member of the John Locke Foundation, has proposed a market-based affordability agenda to address voter concerns regarding the rising costs of housing, energy, groceries, healthcare, and child care. He argues that traditional progressive and right-wing populist strategies, such as price regulation and income redistribution, fail to solve the underlying problem of insufficient innovation and competition.

Hood urges policymakers in Washington, Raleigh, and local communities to adopt regulations that increase housing inventory and accelerate the construction of power plants. His proposal includes ending federal agricultural subsidies, fostering greater competition among healthcare providers, and easing zoning laws for child care centers. To lower supply chain costs, he also advocates for the elimination of protectionist taxes on imports.

In his proposal, Hood cites the Cato Institute's Handbook on Affordability, which promotes economic freedom as the most effective means of supplying goods and services. He specifically references the work of Ryan Bourne, who characterizes big-government responses as treating high prices as political nuisances to be suppressed rather than signals of scarcity.