labor to cop a trouncing in qld, page-48

  1. 2,710 Posts.
    "The state does have the constitutional power to control prices."

    Now you want government price controls????

    Where in the history of governments introducing price controls it actually worked?

    They price it too low then the producers refuse to produce. They price it too high then that drags resources and investments from other parts of the economy. Both actions result in a terrible distortion of the market and ultimately market failure.

    And even if they get the price exactly right, the true market price changes so they wont be right for long.
 
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