To work, price controls have to be implemented on things like energy, the foundational input of the production process, and not on the end product.
If the producer, for example, a farm has to sell its cheese at a set price, at a time when everything in its supply chain including energy is rising in cost, and has to absorb all the extra costs, then clearly the farm can go bankrupt.
https://www.zerohedge.com/markets/myth-price-controls
To sum up. Prince controls can help control inflation but they have to be implemented correctly.
As the Chinese found out, an excellent control of inflation is private enterprise.
China promotes private enterprise, farms, businesses.
When private people want to make the max profit from their work and business, they make sure to optimize production and investment in whatever area they are.
By contrast, the Western Epstein linked oligarchs who control central banks, governments, rig markets, the media, have lost all contact with reality and productivity as their AI debacle shows.
Trillions have been flung at the US AI and chip industry over the past decade.
The result?
China has just produced a far better AI model and using its own chips
It developed its own AI, chip industry virtually from scratch in the past five years.
A state central bank issuing free money to private businesses to incentivize enterpreneurs by ensuring they can make big profits is the Chinese model.
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