form of governance
A particular form of governance, such as Autocracies, compared to democracies, may maintain controlled prices and wages for longer. Autocracies are led by one leader who has an up hand; hence control and use of force for any control measure set. In autocracies, there is less production, and whatever is produced is controlled; hence if prices and wages are controlled, it is easy to maintain for long due to force. In Mexico, for instance, bandits are always in control, and they may decide when items prices are controlled as things are done for a leader’s main interests. In democracies, leadership is for many, and the polities that come in between makes it hard to maintain price and wage control for long. In autocracies, a leader puts his interest first hand, and this makes it easy to have price and wages controlled as long as the interest is met. It may go for long as long as a leader in such a setting is benefiting. Mostly in democracies, when there are wage and price control, unemployment is witnessed, and black markets arise to get items that people need for daily use. This happens as a government controlling item prices has to ration for everyone to get something. If it is not enough, some people have to bride the manufacturers or anyone in the supply line to get the amount needed. When the black market gets out of control, the governments are forced to place items in free markets to flatten a black market. In autocracies, force is used to maintain wage and price control as a leader has the upper hand compared to the rest. Hence it is easy to use force to ensure prices are controlled while a government is forced to introduce a free market for its citizen.
I would consider price and wage control a part of both autocracies and democratic governments as it is part of leadership to care for its people. In some cases, it a few that benefit from such control, and they are the main call for such a set of rules in specific periods. In some instances, like wartime, inflation mostly arises, as seen in World War 1 and 2. Inflation in such periods called for wage and price control to maintain economies in different democracies and autocracies. The markets during inflation cause flooding and supply cash may get out of hand, and lack of prices and wage control mat cause a collapse of a given economy. For instance, in Europe, America, and Russia, the cost of bread and cloths during World War 1 and 2 were controlled and rationed to have everyone get something and survive. However, at some point, the manufacturers were unable to maintain the set pace, and they had to either reduce the production or alter the quality. This forced some to bribe and get what they needed, and the rest who could not afford the bribe live with what was available or with nothing.
Hence, considering all things, at times, it’s recommendable to have wages and price control for items and services. For instance, during inflation, it is paramount for governments to control the prices of items and services and improve the economy. In some cases, wages usually are too low for workers to survive with and live with and cater for all the necessities. It is hence paramount to have price and wage control to cater to the less fortunate while controlling the economy. The government, therefore, ought to be in control and work with its people during such a period to ensure the goal is met when everyone gets the necessary things needed for daily life. When the purpose is fulfilled, then the price may be fixed in prices that are fit for all involved in the production line, as in controlled periods, things are generally tough for everyone. Hence when the purpose is met something should go back to normal. n