Given a glimpse of early Harris-Walz policy thinking, we must wonder whether their presumed grounding in basic economics occurred in North America.Political desperation is evident in trial-balloon pronouncements to follow targeted Biden student-loan forgiveness with comprehensive consumer price controls and $25,000 cash subsidies to first-time homebuyers. What else is likely to follow prior to November? These benevolences reverse the traditional notion of discrimination. They imply potential government “of selected people, by selected people, for selected people.”What about the large body of taxpayers implicitly selected to foot the bill for such largesse – or would there simply be more inflationary federal borrowing? Phil Osifer