https://www.wsj.com/finance/commodities-futures/indias-food-security-problem-is-the-worlds-too-07adc926?st=owssv0y6d3s9r1u&reflink=article_copyURL_share

Price floors don’t offset the costs of regulatory compliance and long-term loss of profits for producers, and they disincentivize competitive market entry that would lower commodity prices for consumers in the long-term.

So, the perceived short-term advantages of price controls for both producers and domestic consumers of commodities make doing away with price controls politically costly.

This is the eternal conundrum of political economy: consistently solving for short-term benefit, over the long run, makes life worse for everyone.

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