LETTER: Sweet Covid deals
ANC government abuses its market power by setting unreasonable prices through middleman-based policy
26 August 2020 - 15:22
You have price makers and price takers in markets. Consumer protection and competition laws are there to protect the public from suppliers abusing market power by setting unreasonable prices.
But what happens when the customer is the price maker and abuses its market power to set unreasonable prices? It’s not an academic question as this is what the ANC government’s middleman-based Covid emergency procurement policy has done...
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