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Oct 06

Ecuador government begins arresting shopkeepers for price increases

In a free market, rapid price increases are quickly fixed by suppliers who, seeking quick profits, hurriedly get more product to market. This growth in supply then leads to rapid reductions in prices.

A sure way to ENSURE that consumers will be deprived of plentiful, cheap goods, on the other hand, is for governments to deploy troops to arrest retailers who price their goods in a way that government dislikes.

But governments worldwide are often oblivious to these basic laws of economics.

Now, in Ecuador, government agents have begun arresting storekeepers whose prices are higher than the government likes. See here.