The authorities have a delicate balancing act to protect consumers while ensuring that they do not overburden enterprises and industries.
As the authorities cannot possibly know full dynamics of the market and desires of consumers, any unnecessary intervention may affect the values and smooth running of a free market.
It may also cause unnecessary increases in business costs, limit investments and growth, increase barriers for new players, and stifle consumer’s effective and independent decision-making process.
In response to the steep price increase, the authorities can lower entry barriers, encourage more players in the market, and stimulate healthy competition, including competition on the Net.
They can continue to educate consumers about breastfeeding and ensure that these consumers are not carried away by well-crafted advertisements and are able to make better-informed choices.
Catalyze a stronger growth of consumer rights group to help promote fair and ethical trade standards and practices.
Provide relevant and regular updates about markets, products and prices and encourage healthy discussions, especially on social media sites so as to educate consumers and prevent profiteering by businesses and traders.
As healthcare practitioners and institutions have a major influence on consumers, the authorities have to ensure that they are not directly or indirectly promoting any particular brand or enterprise purely for generating inequitable returns for themselves, financial or otherwise.
I hope this message will find a place in your heart.
By the way, I have also recorded other reflections.
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