Emeritus Prof Christopher MayEconomists will tell you that price caps stop markets working properly... which is all very well, but when we can see that market society is not working well for the majority of the population, some focussed policy of price caps looks increasingly politically expedient (not least of all as there are all sorts of examples of prices caps not causing the economic sky to fall in).
Markets can be modified, have been modified and should be!
Governments controlling prices? It has long been unthinkable – but may now be inevitable
In Mexico and Spain, leaders who have capped public costs have been rewarded at the ballot box. As another cost of living surge arrives, it may be a policy our leaders are unable to resist, says Guardian columnist Andy Beckett
David S