My recent government reading assignments have been pertaining to businesses and prices. Most of the arguments discussed showed that the government wants to be in charge of who gets what and who is taken from. This I believe is immorally wrong. Now what does the assigned question have to do with this? Well, it asks: “Who should have the authority to set prices, the free market or the government? Why?”
My immediate answer would have to be the free market. The reason is because the government should not intervene with anyone’s business or corporation. The thing is, they already have, and they continue to make up arguments on why they should, like, for example, they are ‘protecting customers’. An owner of a business or organization has the right to set his own prices based on whatever reasons he may have to do so. This can be influenced by other businesses that compete with them, but it should not be influenced by the government.
Sure, they say that businesses need to make a ‘fair profit’, but who are they to decide what is fair? If a client or customer is willing to pay, and the seller also thinks the price is fair, what is more fair than each being satisfied by this exchange? This is why government does not, and should not need to control prices. As a matter of fact, this exchange also proves against another cliche used to promote price controlling. The businessman has created a product for the customer, and a lot of businesses have been founded upon a certain need they want to solve, hence the argument that businessmen should work for the good of others is nullified.
In conclusion, there is really no need for government in a mans business. The free market is the only true influencer of a producers prices. I have stated the facts plainly and simply, and it is easy to see why I made my choice. Overall, bad prices really are in the ‘eye of the beholder’ or in this case, the eye of the customer.