Friday Discussion on The Role of Prices

Friday Discussion on The Role of Prices

Friday Discussion is a program designed to engage and inform the core members on the ideas of free market economy and classical liberal ideas. Discussions are made on the contemporary issues (local or national) through free market perspective. Article is selected and shared within the members to prepare oneself for the program. The program is organized at the venue of Hotel Namaskar, Biratnagar on every alternative Friday (twice a month).

The members of the Friday Discussion Group sat down at Hotel Namaskar Bar , on the 6th of January to discuss the article “The Role of Prices”.

The participants mainly argued on “what is the Role of prices and how price should be determined”. Although the article have argued that we all are the dependent on each other for every amenities of life. Each consumer, producer, retailer, landlord, or worker makes individual transactions with other individuals on whatever terms they mutually agree on. The discussion went on further with role of Government on price determination. As price determination effect in the life and economy. There should be involvement of government not the interference. Government should make proper guidelines. It should play role from the both sides (both consumers and producers). Debating on it some argued that price is determined by government where state owned enterprises are run by government. This was countered with the argument that the funding for such enterprises comes from taxpayers’ money. It is not completely justified as taxpayers usually have no say. Also in this era of Globalization such enterprises are not contributing for the growth of the economy.

After discussing for an hour, the participants concluded that the government must abandon on price system of market, it must ensure free and fair competition. Decisions should be made by market players based on supply and demand.

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