Manipulating the price of consumer welfare, By Uddin Ifeanyi
Even then, it is a far better application of scarce domestic resources for government to fix structural impediments to doing business in the country — by dismantling barriers to entry across all markets, making information generation and exchange less opaque, removing incentives to market power, fixing the logistic chokepoints that impede the movement of people, goods, and capital across the economy, etc.
Beginning in the early 1970s, successive federal governments have interpreted the task of enhancing domestic manufacturing capacity as one of circling the wagons around local industry — even when some of the lead entities in these industries bore marques such as Volkswagen and Peugeot.
Along this path, government could do one better, by also addressing the volatility that afflicts domestic prices from fiscal incontinence, and amateurish management of monetary policy.
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