We need a word or image

A restaurant I walked past every day was sold to a new owner.  I didn't try the food under the new owner I just watched the prices go up every week and the number of customers go down.  Finally, on a warm day when the owner was sitting out front and the restaurant was empty I asked the owner why he kept raising the prices.  He said: ' I have to cover the overhead'.

In economics this is called an elastic demand curve.  Raise prices by 10% and lose more than 10% in revenue.  That is too complex for ordinary people and particularly for politicians, with half their IQs under 100, to understand.  Our local and state governments keep raising prices expecting revenue to increase on buses, parking meters, hotel rooms... everything. Unions do the same thing with wage contracts every day.

The restaurant owner was Luigi, but Luigi's Folly doesn't really ring a bell. Neither does Jack & Jill, the Three Little Piggies nor Little Red Riding Hood work either.

Give this ubiquitous stupidity a name or image.  Please.