Price control.for higher basic commodities

[Nocturnal Thinker]

Should there be a price control?

In this era of pandemic, the people are greatly affected especially their mobility, their family, their job and their day-to-day essential needs foods, clothing and medicines.

Worse for them is the recession in the country's economy. Money is too scarce. They couldn't depend so much from the government which is also running out budget to support the people in distress. And also the unprecedented rising of prices of basic commodities. The poor and the needy will remain starving for they can no longer afford the prices. The business is trying to make a higher profit to cover up their losses.

Now where is the government to control this?

 

[Hova]

I thought there was a body already in place to deal with matters prices. I feel like there are people whose jobs are to regulate prices.

 

[sliara]

Well some items are grossly overpriced, like milk in some stores, so I'm not sure if the government will do anything about it at all. I did notice that the price of soda went down.

 

[Hova]

If bills can be passed to make sure citizens like you and me are protected against greedy businessmen/women, that would be much better.

 

[Jeremy]

There is always a regulated agency in a nation, to help control price action of a commodity. But the wholesaler and retailers do cause cartel and hurdles some goods, which later cause scarcity of goods, and leads to inflation.

 

[Nocturnal Thinker]

There is always a regulated agency in a nation, to help control price action of a commodity. But the wholesaler and retailers do cause cartel and hurdles some goods, which later cause scarcity of goods, and leads to inflation.

You're right. They hoard the basic commodities and later release them to market at a higher prices.

The government is trying to stop it. It searches every possible places where their warehouses are located.

But those businessmen or traders are very clever. Once they smell something messy they transfer their items somewhere which the government couldn't find them.

 

[Hova]

That is because the same government that causes the scarcity of goods and hike in prices, is the same exact government that tries to solve the issue. That is like a cop trying solve a crime that he/she committed in the first place.