So I try to stay on top on economic news, and one thing that is confusing me is why government enforced price caps on products wouldn’t work? All I hear is about how strong the economy still is, record profits for corporations, and increasing wealth of the country’s most affluent people. Wouldn’t price caps cause: 1) more wealth for the average consumer 2) still profitable corporations (albeit not the record profits that they continue to reach) 3) more equitable wealth distribution?
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Also aside from the well written and concise responses referencing markets and trade etc I want to say that british gas made 900% increased profits in the first half this year due to increased prices. This is not about being fair. We are raising our arses in the air to get fucked yet again without a single petrol bomb or riot in response. Disgusting business practices and too stupid of a population to form a response. Stick love island on and let’s all forget about it over beers👍
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