Though corporate America would like us to believe otherwise, the retail prices of essential goods like food and energy are not set by simple supply and demand.
In large part, they’re determined by the corporate cartels that have vanquished their competitors — and Wall Street speculators who place bets on the future availability of commodities.
With price hikes for energy, gas, and food remaining stubbornly high, it’s time to do something about it. That’s why some experts now support a fix that was long considered taboo: limiting what corporations can charge for certain goods.
In other words, price controls.
Price controls tend to outrage many economists and business-friendly politicians. But curbing excess profits and making essentials more affordable would be politically smart — and effective.
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