Regulated Pricing Vs Human Greed: Exploring the Ethics of Price Control in Modern Markets
Personally, I don't believe citizens should be made to fix price for anything themself without a government regulated supply body because some people can be greedy. When other starts to see the huge theft potential in it, they take advantage of it. Businesses shouldn't be free; they should all be centralised under one supervising body. This will help to examine those who are true to business and those who want to take advantage of the market.
Regulated pricing, in my own personal view, can be described as when there is either a government body or community moderators by the society that supervise the price of markets in the economy to prevent people from taking advantage of others in the market. We need regulated pricing for things around us. I have noticed something about african market, which is that, when there is no competition and price monitoring bodies that supervises the price and inflatiosn of our desperationAfricaneed price inflation the we get to take adavnatage of that moment. If there is no body or community to supervise this price control, then people can take advantage of other people too.
I grew up in a society where we were taught to take advantage of the trends and get rich, or make a lot of money through them. Street uncle buys cloths from direct stores and china for proximity of 3000 to 5000 per cltrendsd sell them for 30,000, or 50,000, he made me understand that it his own style of bradning and when i go to his store i saw those fancy jeans and tops they really loke beautiful but the truth is this is nlot thrend this is extortation, being a business man when your gain on the business is more than 2x or 3x is not a good approach its a sign of g ed, because your dont even care who and who can afford it or try to bring the amoutn down to make it affordable for bpopth thr poor and rich. It's a good business style to gain fast money but this is really unfair, the gain was too much, and this is one of the things that causes inflation in the country, when clothes become shoes too will follow, then food then housing and use this will all want to meet up with the standard of the trends happening.
I know business is all about making a good profit, but some profits are too much for the value of what you're selling. Trendse buys a pair of jeans for 3,000 and now sells it for 50,000 plus, that's too much of a gain, it's really unfair. I see this as a low-key silent way of theft. People need to understand that business is not greed, making 20%profit is not a bad thing and does not mean you're stupid, it's a good thing. We need business to be fair and not out of greediness and desperation for wealth. Life is easier when we all get to support each other, it even reduces inflations when businesses don't work out of greed for themself only.
This is my entry to Hive learners' weekly prpt week 188 episode 1.
Thank you for reading my post.
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Business is not greed and not all about making profit now. Thanks for sharing
Noted Sir
We have those bodies that regulate and control prices in Africa but they are just not doing Theo work and they allow bribe so they relax and allow marketers do as they please.
Those ones are thief, they will give them money to clow their mouths
While I understand your take, have you considered that the Nigeria market is not stable and as such profit cannot be predetermined? Have you forgotten so soon how the president just woke up one day and declared no more subsidy which saw the price hike that we are suffering today? People need to be sure that whatever they are selling at would be able to buy them a replacement product so that they can continue in business. Your points are very valid but then in a country like Nigeria where the government themselves have no control, a central controlling body will be suicidal for the business environment.
It might not be a central government body, it can be an association within their business. I understand your view on this, we all have different perspectives of how the market works but Buying a trouser for 5k from china and now selling it 50k for people, his way too much for a gain and very unfair. that's more than 2x or even 3x profit.
It depend on the area. You don't expect someone whose shop is in maitama or Lagos Island to sell same price as those in cheaper area. When it comes to running business, you don't only look at the profit but the cost. Regardless, it's a free market and thank God everyone now has access to shop from China.
I understand your view on this. Good to know we all have access to china orders directly
That's just the problem. Ere ajepajude attitude is way too much. Imagine someone selling with profit of 47k, that's so outrageous no matter how bad the country may be
you get, way too much and I see this as cheating m, some will say its business but the truth is, its greed.
Real greed.... What business affect the livelihood of others
y9u get it Afriken
Price inflation is low key theft, business needs to be fair and not controlled by greed.
Exactly Vanilla