Wednesday 7 December 2022

There is no shortage of EGGS : Laisses Faire

is a song from David Ackles, who is often described as America's best late 1960's to early 1970's songwriter, that is unknown to the wider world.

ARE we facing a shortage of egg in Malaysia? The anwser to that is pretty complicated, yet straightforward. 

Sure I've heard what they're saying
Share the wealth
Ah that's what they're saying
But I don't believe it
The government takes all the cash
And eats it or something
So the rich get richer
And the poor get nothing

YES we are facing a shortage of egg in the supermarket shelves but we are not facing a shortage of eggs in Malaysia, as we remain a big exporter of egg. READ : We have enough egg for all, says poultry breeders .

SO what is the issue here then? Well just VIEW : By Renowned Economist Milton Friedman explaining how the free market works.

BASICALLY it boils down to demand & supply, and what the consumers are willing to pay to have the supply. The issue of cartels are true yet they are hogwash.  We need to lower the entry barriers for new players to flood the market.  

WELL I am sure most of us have heard of OPEC, the biggest oil cartel in the world, who are learning now as new players come in to the industry, that they too can no longer afford to control oil prices on their own. READ :OPEC alone no longer controls oil prices