Foreign Exchange Rate Reduction in Liberia
The Editor, Would a foreign exchange rate reduction, imposed by government, help chicken feet sellers in Liberia? Please! (Re “Reduce U.S. Rate, Not Chicken Feet”). When the price of something is “too high”, many people think that the answer is for the government to “do something” to force the price down (price control). But anyone who knows history or have taken economics 101 know that long lines, shortages, and black market are common in countries where the government have force down prices (price controls)! Anytime our government reduces the MARKET…
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