Food market is freedom illusion
Dear Sir,
Some time ago you printed a headline story about a food shortage in Bermuda. There should then be no surprise that prices are high. Appearances are misleading.
Bermuda food prices have been in a non-stop upward spiral. Shipments come to merchants in container-size orders “just in time” as current stock runs out. Therefore, any delay in delivery leads to a “shortage”, which is not as serious as it sounds. Existing stock is in fact adjusted to bring more profit at those times. Half a $12-$14 melon sells for $10. The affluent know no shortage, the merchant is happy, the low-wage, single families drink apple juice. Some homeless beg and drink beer.
The Bermuda Government has responsibilities to hard-working, low-wage families. The choice is:
A: Price control
B: Minimum-wage legislation
C: Improved government support
Merchants will not like price control and the Government is ill-advised to tamper with a free market. The Bermuda food market, however, dominated by a few large firms, is a freedom illusion.
The minimum wage will force prices higher, further disrupting our ability to repay our debts. A discreet revision of government policies to support low-wage earners will be more economical and meet their need.
I do think this function should be returned, at least in part, to parish local control.
BERTRAM GUISHARD