With high grocery, household and energy prices, everyone has felt the pinch of inflation. The cost of rent, automobiles, travel, concerts and clothing have surged. To stifle some of this price swelling, the Biden administration has released executive orders and initiatives calling for more competition or price reductions on everyday goods or services. Even policymakers have proposed implementing price controls.

Prices are a pillar of a functioning economy, sending signals daily throughout the market informing businesses and consumers what to make, how much to produce, and how much to purchase. In a coordinated effort of basic supply and demand, the market self-regulates, producing and selling the right amount of goods and services.

This article was published in full, at Inside Sources.