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Whoo, Boy

Information and Broadcasting Minister Dr Hasan Mahmud on Thursday urged the businessmen to come up with a mentality of reducing prices of essential items in festivals like Ramadan, Eid and puja etc.

“Prices of essential times usually decline during festivals in almost all over the world. But, unfortunately the prices of necessary items increase during festivals like Ramadan, Eid and puja etc in our country.”

Reminds me of the babushka quoted in 1993. “Why does the price of eggs increase just before Easter when everyone needs them?”

Bangladesh has done damn well this past 20 years. But Jeez there’s still some way to go.

11 thoughts on “Whoo, Boy”

  1. Does assuming scarcity become an excuse for inflation?

    What if retailers deliberately create scarcity by artificially restricting supply?

    Is price gouging an arbitrary psychological behavior that easily gathers momentum because econmenists give inflation mongers an excuse by analyzing any price increase as duh scarthity?

  2. @?
    Unless there is a cartel, retailers don’t have pricing power. Inflation is a monetary overabundance, not a scarcity issue. Please go back and try to understand the price-demand curve presented by our host a few days ago.

    Please think these things through before you post.

  3. Bloke in the Fourth Reich

    Otto, no shortage in Germany, and one of the few foods that hasn’t gone up by 50 to 100% recently.

    I assume the festive decline in normal food prices is in part due to increased purchases of caviar reducing the demand for fish fingers, etc.

  4. Prices of essential items usually decline during festivals in almost all over the world

    He’s obviously never tried to buy a bottle of water at Glastonbury.

    Seriously though, the markup on anything prefixed with “Christmas” is incredible. M&S Christmas food has eye-watering prices, even by M&S standards.

  5. @? – “What if retailers deliberately create scarcity by artificially restricting supply?”

    Then they go out of business when their customers go to their competitors.

    For normal transactions, free market capitalism works to the benefit of the general public and not the capitalists.

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