Brushing off criticism of the Renters' Rights Bill as "hardline Randian" is really weak sauce. UK didn't have this law until yesterday, was it "hardline Randian" then? There's also historical precedent of similar well-intentioned legislation backfiring: https://capx.co/equal-pay-claims-are-a-fiscal-timebomb
The criticism was hinging on calling the law "rent control", associating it with state-set caps to rents and the long and problematic history of such caps. The justification for this was much less prominent, and the argument is that since there will be a way for tenants to contest punitive rent raises (that is, rent raises above market rates), there will be no market prices anymore. This is the "hardline Randian" bit: the assertion that a regulated market is no market at all.
Note that your link doesn't claim that we have no labour market and no market cost of labour. Regulation can backfire, but it's different from claiming that regulation equals state set prices.
Brushing off criticism of the Renters' Rights Bill as "hardline Randian" is really weak sauce. UK didn't have this law until yesterday, was it "hardline Randian" then? There's also historical precedent of similar well-intentioned legislation backfiring: https://capx.co/equal-pay-claims-are-a-fiscal-timebomb
You're right, I didn't expand on that enough.
The criticism was hinging on calling the law "rent control", associating it with state-set caps to rents and the long and problematic history of such caps. The justification for this was much less prominent, and the argument is that since there will be a way for tenants to contest punitive rent raises (that is, rent raises above market rates), there will be no market prices anymore. This is the "hardline Randian" bit: the assertion that a regulated market is no market at all.
Note that your link doesn't claim that we have no labour market and no market cost of labour. Regulation can backfire, but it's different from claiming that regulation equals state set prices.