Intervention, where necessary
Thursday, 20 August 2009
A policy of mixed economy is what the government will have to follow. Upholding market economy, the government will have to selectively intervene in the market to get the best results. Businesses should enjoy freedom so long they behave.
But when they misuse freedom, the government should intervene and take deterrent action. The businesses cannot have the licence to do whatever they wish. They should do business within the bounds of rules, reason and ethics. Businesses must be subjected to regulations. The economy and the consumers need to be protected from the undue behaviour of businesses.
Even in the US, the government had to go for massive intervention to save the economy and the people from the greedy capitalists. So market information as and when necessary, must be a normal exercise -- everywhere. It should not come as a something unthinkable.
It would be advisable for the government to set its focus right in this crucial area. Otherwise, it will never achieve its goal of price normalisation or stabilisation. Businesses will not like to lower the prices to reasonable and rational levels. Moral lessons do not work when profit is the basic motive. Without market monitoring and regulations, they will never achieve what it wants to. This is what our experience over the years.
Shimul Biswas
Khilgaon Chowdhurypara
Dhaka
But when they misuse freedom, the government should intervene and take deterrent action. The businesses cannot have the licence to do whatever they wish. They should do business within the bounds of rules, reason and ethics. Businesses must be subjected to regulations. The economy and the consumers need to be protected from the undue behaviour of businesses.
Even in the US, the government had to go for massive intervention to save the economy and the people from the greedy capitalists. So market information as and when necessary, must be a normal exercise -- everywhere. It should not come as a something unthinkable.
It would be advisable for the government to set its focus right in this crucial area. Otherwise, it will never achieve its goal of price normalisation or stabilisation. Businesses will not like to lower the prices to reasonable and rational levels. Moral lessons do not work when profit is the basic motive. Without market monitoring and regulations, they will never achieve what it wants to. This is what our experience over the years.
Shimul Biswas
Khilgaon Chowdhurypara
Dhaka