justinbk

justinbk

62p

212 comments posted · 8 followers · following 0

531 weeks ago @ Reporter - Amharic Ver... - ከ2.8 ሚሊዮን ... · 1 reply · +1 points

Debub is doing a lot better that I thought.

531 weeks ago @ Reporter - Amharic Ver... - የዋጋ ማስተካ... · 0 replies · -1 points

They have free market economies. But like I said before, they have sometimes used price caps, mainly because their markets like Ethiopia was at early stages of development due to poor competitions and inefficient trading systems.

531 weeks ago @ Reporter - Amharic Ver... - ‹‹በሃ... · 0 replies · +8 points

Good Interview, Repoter. It would have been nice if you gave us the web address for the company.

531 weeks ago @ Reporter - Amharic Ver... - የዋጋ ማስተካ... · 0 replies · +1 points

Don't Put Price Caps on Items of Luxury, such as Beer and Soft Drinks!

But price caps should NOT be put on items like Beer and soft drinks. These are not basic food items or items of necessity. These are goods of luxury. Putting caps on such items unnecessarily complicates things and possibly create unnecessary economic hardship.

531 weeks ago @ Reporter - Amharic Ver... - የዋጋ ማስተካ... · 3 replies · +2 points

You are an uninformed chap. Price caps have been used in many countries successfully in the past. South Korea, China, India have used price caps to combat inflation in the past. Even the filthy rich country Duabi has used price caps in the past on basic food items. When a market is not mature, sometimes price caps is the only solution as a TEMPORARY measure to combat non-economic, avoidable inflation. It has been proven to work if the price ceilings are set correctly, ensuring fair profitability of all the critical market actors - wholesalers and retailers - and thus no shortages occur.

But price caps should not be put on items like Beer and soft drinks. These are not basic food items or items of necessity. These are goods of luxury. Putting caps on such items unnecessarily complicates things and possibly create unnecessary economic hardship.

531 weeks ago @ Reporter - Amharic Ver... - የዋጋ ማስተካ... · 0 replies · -1 points

Good job Trade Minister. Work very closely with the business community, particularly with the wholesalers and retailers to set the price ceilings correctly. Price caps have been proven to work in combating inflation in the past in many countries. Among others, China, South Korea, India, even the filthy rich country, Dubai, have used price caps successfully in the past.

But products like Beer and Soft Drinks should NOT be under price caps. They are not basic food items of necessity. They are luxuries. All items which are not of basic necessity should NOT be under any price cap. It unnecessarily complicates things and can possibly create unnecessary economic hardship.

531 weeks ago @ Reporter - Amharic Ver... - “የለም&rdquo... · 0 replies · +1 points

It’s true many countries have used price caps successfully when necessary, when other options are not workable. Price caps are usually used as temporary measure and very infrequently when inflation starts to rise unacceptably.

Even the filthy rich Dubai is known to use price caps sometimes. Some countries with unhealthy market use price caps around Holidays because the prices usually spike too much around Holidays due to the unhealthy market.

531 weeks ago @ Reporter - Amharic Ver... - “የለም&rdquo... · 0 replies · +1 points

Price Caps Have Been Proven to Work in the Past, when done CORRECLY! But If NOT Done Right, Can Result in Total Failure!

Countries like South Korea and China have used price caps from time to time to control inflation. It has been proven to work if the price caps are set properly to ensure the PROFITIBILITY of ALL the critical actors in the market place, in particular, the WHOLESALERS and RETAILERS. Price caps are usually used when a specific market is not mature at a given time resulting in avoidable, non-economic inflation.

South Korea used price caps at different times in the past on some basic consumer goods, especially during the 90s, and succeeded in controlling their inflation very well, as well as growing their economy. The proof is the economic growth South Korea enjoyed during the 90s and how well they are doing now!

But if the price caps are set too low, it can result in a Disaster, a Complete, TOTAL Disaster , as some examples demonstrate - the Zimbabwe's experience is one prime example. Grave shortages, empty stores and worsening of inflation can ensue if the ceilings are too low, for critical market actors will stop supplying products because it is NOT profitable for them to do so anymore.

So, I STRONGLY urge the government to work together with the business community closely to make sure the price ceiling on each product is set correctly to ensure fair profitiblity of all the critical market actors, and no shortages will occur.

531 weeks ago @ Reporter - Amharic Ver... - ሸራተን አዲስ... · 0 replies · +1 points

I said they have a right to ask for fair compensation. I don't know, and you don't know, if they have been offered fair compensation and are refusing to accept the offer. My point to the Union is they should accept fair compensation if offered and stop the bickering. But fight on if not offered.

532 weeks ago @ Reporter - Amharic Ver... - ሸራተን አዲስ... · 3 replies · +16 points

Hope the Union is not being unreasonable just because they believe the Hotel is owned by a very wealthy person. You have a right to as ask for fair compensation and treatment, but please don't try to take unfair advantage of the company.