Massachusetts senator and potential Hillary Clinton vice presidential nominee Elizabeth Warren joined two other senators in challenging the popular free market innovation: Airbnb. Brian Schatz of Hawaii and Dianne Feinstein of California joined Warren in urging the U.S. Federal Trade Commission to examine these such businesses like Airbnb, HomeAway, VRBO, and FlipKey to make a determination of their impact on housing, which the senators believe to be a negative one.
In wanting a regulatory probe into these businesses, the senators are concerned with ” racial discrimination on some short-term rental platforms” and “that short-term rental may be exacerbating housing shortages…”
The lack of recognition for middle-class benefits is astounding. These businesses allow middle-class homeowners to provide themselves with another income, that is usually needed. Before Warren pledges to help the middle-class again, she must address this. She is restricting success for many Americans.
It’s never surprising to see ‘super liberal’ Elizabeth Warren expressing her doubts about free market innovations. After already seeing Uber and Lyft go under attack, it is discouraging to see another free market product fall victim to socialist economic policy.
I certainly believe that innovations such as Airbnb and Uber should be encouraged, as they alike represent the future of economic success. Progressives like Senator Warren only harm the, ironically progressive, U.S. economic growth and middle class when they decide to restrict and intensively regulate these businesses.