Answer to Inflation and Bad Economy: Government Mandated Price Fixing: Yes or No?

[YukonKnife]

Question: How Can Inflation Be Stopped While Also

Keeping The Economy Strong?
What are your opinions and feedback and ideas on

this?
One person told me their "Magic Fix It Wand" is

"Government Enforced Legal Price Fixing".
He claims the government should just step in and

force and set all private and public businesses and

corporations to have a set price for goods.
For example: On gas prices, he says the US

government should force the oil/gas companies to

sell gas for 1 or 2 dollars per gallon. Anyone who

tries to sell gas for a higher price would be

penalized, this would be illegal.
This person goes further: The government should fix

the price of bread, meat, cheese, milk and dairy

products, clothes, tools, steel, etc etc etc, and he

claims this is the "Ultimate Panacea. Then companies

can produce the goods people want, and, make

something of a profit (after all, if millions of

people are buying gas at 2 dollars per gallon then

the oil companies are getting millions or billions

of dollars) and the consumer public can have low

prices for the goods they want. What are the down

sides and dark sides to this idea?

 

[foghorn918]

Sounds like communism

 

[GlockPride]

Un huh, good luck with that. Although, knowing these evil imbeciles, they’re going to do it.

 

[turkeyrun]

NEVER has "put they goobermint in charge" been the answer.

Goobermint mandated price freeze / wage freeze, back in the '70s.

Didn't work

 

[cowadle]

"force people"? the answer to inflation was not to print so much currency that it creates a bubble. seen this tried before in the 1970's but things are worse now.

 

[kingfish]

Price fixing never works. It sounds good, but what happens is if companies can't sell their goods at a survivable profit, then they simply stop producing them causing shortages. If for example they set a retail price for a particular product. Are they also going to freeze materials and labor that go into making that product? Will the wholesaler also have the price fixed. What about the manufacturer of the item? If production costs continue to rise for raw materials but the price he can sell it for is fixed, it will reach a point of sustainability and they will go broke. You would basically need to freeze the entire economy. But this only works for domestically created products. You can't put price controls on imports which much of our economy revolves around.

 

[mavs]

When are we going to start forcing people to adhere to the oath of office they swore allegiance to when they took public office.....and put those who fail to do so in federal prison for the rest of their life?

 

[Seadog]

Question: How Can Inflation Be Stopped While Also

Keeping The Economy Strong?
What are your opinions and feedback and ideas on

this?
One person told me their "Magic Fix It Wand" is

"Government Enforced Legal Price Fixing".
He claims the government should just step in and

force and set all private and public businesses and

corporations to have a set price for goods.
For example: On gas prices, he says the US

government should force the oil/gas companies to

sell gas for 1 or 2 dollars per gallon. Anyone who

tries to sell gas for a higher price would be

penalized, this would be illegal.
This person goes further: The government should fix

the price of bread, meat, cheese, milk and dairy

products, clothes, tools, steel, etc etc etc, and he

claims this is the "Ultimate Panacea. Then companies

can produce the goods people want, and, make

something of a profit (after all, if millions of

people are buying gas at 2 dollars per gallon then

the oil companies are getting millions or billions

of dollars) and the consumer public can have low

prices for the goods they want. What are the down

sides and dark sides to this idea?

Like foghorn said, communism. Feck that and anyone that proposes it’s. Inflation is caused by the government. The solution to that is getting rid of these people printing money out of thin air. The more debt a country has the more inflation they have. If they paid off the National debt and lived within their means like the rest of us inflation would subside.

The answer is getting rid of any Democrats or Republicans that act like them. That would also mean no more special interests. If the government just spent the money on national defense, protecting our borders, and promoting commerce we’d be doing just peachy.

Do we think they are going to be physically responsible? That’s the answer to inflation going away.

Them being able to price a product or service is just them being able to gain more control over peoples lives and I am hell-bent against it.

 

[chuter]

..................................

It's incredibly sad that there are people that think this way. It makes sense if you want to kill private business. (I'm not an economist or a biologist)

 

[Aries]

Worked GREAT for Carter in the '70's. [NOT!]