Finally, something right up my alley. We are talking about macroeconomics. And we are discussing the very fundamental problem of the capitalist free market. That is the price of regular products. Throughout the world. It is a glaring issue and everyone faces their own set of obstacles to tackle this. Basically some people advocate that prices should be at the seller's discretion and that they should have full liberty to put a price tag of their choosing. Well, some also advocate about the title regulations that will see prices stabilize and businesses won't be able to over-inflate prices of products so that they stay inside the range of people's purchasing power also aligned with the concurrent economy.
There are arguments on both sides for this. And both can be justified if we look at it from the right angle but I am on the regulation side. Because throughout the world bought some of those middle European countries which have have a GDP per capita of hundreds of thousands of dollars. People elsewhere do tend to struggle to get by. In different countries, even the ones that are considered to be be the first world countries, people are having trouble to buy their daily commodities because of high price. Price now. I know that it is not so laid down to the sellers putting up prices of their choosing, rather the broader economy. But if we put that Liberty into the seller's hands then what remains of the purchasing power of the people who are struggling will struggle more because if you give them the chance to put a price according to their liking, they will never put a lower price. They will always inflate them. Because no one would like to decrease their own profit margins. As a consumer you want to save and as a service provider they want to profit more. It's just how economy and people's instincts work. So I'm lessed there's regulation. There's going to be more inflated prices which will lead to more civil arrest and people's struggling to make ends meet and it will be a chaotic situation. And it is not a very good thing to have, but in my country there is a very vivid example of this very problem. If we consider the whole process of a product going from the farmer to the end consumer, there are many middlemen in this country, who demand money from the ones transport product. Suppose you're going from point A to point B. And there are two people along the road who are blocking you and asking for money to let you pass. And these problems drum up the prices of the products. We have. A list which provides information of the maximum retail price of a product or MRP. But that is not strictly maintained and most products. And sellers put a price according to their choosing. This ends up making those products out of reach of most people. And they all maintain some sort of syndicate which has been addressed in this country for many times. But it hasn't been eradicated yet.
Considering I suffer a lot from such inflated pricing, I strongly advocate for title regulations and monitoring of product transportation and overall logistics to put a hold on such inflated pricing because this is putting a lot of people in a lot of trouble and I myself have trouble affording a lot of things, which mostly include regular food items. So regulation is necessary or else people will run loose just like this and the economy the market will fall apart.