Why can’t the government just set a concrete price for everything (Rent, groceries, etc) and forbid it from ever changing? That would prevent inflation from ever happening, right?
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For example:
Imagine govt setting the price of a laptop of LCD at $500 in 2000, now companies wont spend money to develop LED screens because in 2000 LED will cost $600.
Now because of this, in year 2022 LED TV wouldnt have been there because no one developed it. Inversely if there was no cost control then companies would have developed it more and spent more money on R&D and finally in year 2022, you get LED screen for $300 rather than $600 in 2000.
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