High cost of living? Any consequences and remedies?
Posted October 26, 2016on:
High cost of living?
Consequences of high cost of living:
- Reduction in natality rate
- Reduction in the quality of the goods produced for the internal market
- Shrinking of export market shares because of the degradation of quality goods
- Inflation that reduces quality of life for the poor…
Remedies for high cost of living:
- Formation of collective associations
- Elimination of import taxes
- The longer-term remedy is to increase production accompanied by high turnover frequency in trading goods and services ready to be purchased
- Tighter control and investigation of the public servants whose standard of living is not commensurate to their earning. This control will dramatically reduce mafia control of the economy