That’s an issue in a complete free-market state, but China is still nominally communist, i imagine that state control will occur before food shortages occur.
Comment on China consumer prices plunge at fastest rate for 15 years as deflation fears deepen
venoft@lemmy.world 10 months agoAnd if food becomes too cheap producers will stop making it, which has its own obvious problems.
Longpork2@lemmy.nz 10 months ago
PhlubbaDubba@lemm.ee 10 months ago
Fun fact, this is why price setting and price ceilings don’t work,
The Nordic states have discovered a better solution is to have a maximum annual adjustment range, I think a refined approach would be to tie that adjustment to the federal interest rate, not only does it avoid gouge markets, it also balances the equation of vlas interests so that the wealthy and working class both have interests in raising and lowering interest rates.