Price Controls are People Controls

The title of this essay may seem vague or confusing. I mean who controls prices in the first place, why are price controls people controls, and what does this whole thing mean? I was also quite stuck when I was presented with this statement. But with a few minutes of figuring things out I believe that I have sufficient answers to all questions you most likely have.

Prices should be controlled by the people; this is how the free market works when it comes to prices. Unfortunately in many scenarios it seems that the state is controlling prices instead of the people. If the state or government controls prices which is becoming more common these days, business owners, you or me, or any other person will have no control over prices. Businesses no longer will be able to control how much their products or services will cost. The average person including you and I will not have control over how much we would want to spend on something, because now that is not our decision if the state controls prices.

Now that I have given a basic image of who should control prices and what would happen if the state controlled prices, I will move on to the most important question: are price controls people controls? Well to begin with controls on prices by the government, now business owners are not able to have control over the prices of their services or products. That is controlling business owners, who are people, now I will move onto the side of the consumer. If the government controlled prices, that would control how much people would spend on things. In a world without price controls there is competition and the consumers are able to buy things at the prices they would prefer, or are more affordable for them personally. But with price controls now people have little control over how much they have to spend on things. This is quite a control, hence price controls are people controls.

In short, prices should be controlled by the people. By the government controlling prices that will control the prices of services or items, and the customers or consumers will have not a lot of choice over how much they would prefer to spend. This is why price controls are people controls.

2 Comments

  1. This is really interesting and I hadn’t thought of price controls being people controls before! 🤯 I was watching a documentary on the history of the Tesco stores last week and funnily enough it drew my attention to this topic by way of stating how when they started out people were drawn to them because of how fairly priced they were compared to everywhere else but then there came a time when the government decided things should be more “equal” and the prices must go up which caught my attention because all the owners had wanted was to provide fair sales. Shows just how long it’s been going on as that must have been 50s or 60s. Something I notice these days is how some shops will say if you can find a product cheaper elsewhere they’ll match that price to still get your custom which in another way shows the profit that is being made already over the set controlled pricing. Anyway, great post! Made me think and taught me what it’s all called/about ✨

    Liked by 1 person

Leave a Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s