Whenever there is a crisis relating to price hike of essentials, we hear of market intervention including open market sales, step that resembles socialist era policy. Practically, we are living in the age of free market economy, in which some players try to apply free-style, especially when there is deficiency in regulation. In fact, instead of regulation proper, in our case, we see intervention.
The best thing the state can do is encourage competition in the market, policy which creates more opportunities and serve public interest. Without a regulatory protection for fair competition, no new player can enter the market. In the West, many intelligent people can join and shine in business, something which is absent in countries like Bangladesh. Business competition could also have reduced the burden on the government to make market intervention every now and then.
Sabbir Ahmed
Leed, the UK
raju.sabbir@yahoo.com
Letters to the Editor
Market management
FE Team | Published: November 08, 2020 19:39:43
Market management
Share if you like