The right and wrong ‘war’ on mask prices

The right and wrong 'war' on mask prices 4

When I was a student, I used to do many different jobs to earn money to pay for my studies.

However, when I have a lover and get married, on these occasions, I become a consumer.

Michael Sandel is a lecturer in philosophy and politics at Harvard University, USA.

His philosophy can be used to analyze problems occurring in Vietnam today, of which the sale of masks at `exorbitant` prices is a typical example.

Supply and demand model.

On the supply and demand model, under normal conditions (no epidemic), supply curve S1 and demand curve D1 intersect at point A. Traders sell a quantity of masks Q1 at a price of P1.

Michael Sandel is famous for his courses on justice.

When the Corona virus flu epidemic appeared in Vietnam, especially when the Government announced the epidemic as well as propagated measures to prevent infection such as using masks and regularly cleaning, the need for masks and water increased.

However, in reality, when commodity prices increase, specifically mask prices increase, it will stimulate manufacturers to work overtime, importers will also find sources to import more goods, many suppliers

However, in a short time, the supply of masks has not been able to keep up with the sudden increase in demand (the main shortage is Q3 – Q1), so some speculators and traders have innocently increased the prices of products.

From an ethical perspective, it is clear that business people who take advantage of the scarcity of goods and push up prices to profit without caring about the hardships and suffering of others need to be condemned.

The government reacted very quickly, strongly and drastically with administrative orders such as withdrawing business licenses, allowing market management forces to strengthen inspection and supervision… ensuring mask prices did not increase.

Therefore, to promote the positivity of this policy, in addition to administrative tools, the State needs to intervene with other additional market tools:

Price policy: Accurately determine the actual selling price of masks at the present time, thereby serving as a basis for determining what is a reasonable selling price.

Increase the supply of masks with policies: Limit the export of masks, prioritize serving domestic needs.

Regulating demand through propaganda: so that families do not buy masks in large quantities and avoid local shortages.

Operating a market economy requires following market rules, as well as using market tools for regulation.

>> What is your opinion on adjusting the price of masks?

Vu Ngoc Bao

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