Saturday, September 03, 2005

The Khaleej Times today carries this story on inflation and its effects on consumers.

Refering to an Abu Dhabi Chamber of Commerce and Industry (ADCCI) study, KT lists the following as one cause of inflation:
The UAE economy is also disposed to high consumption as everyone—nationals or expatriates—spend lavishly and tend to imitate one another.
The recommended solution?:
Strict monitoring of prices in the market and dealing with the violators with an iron fist. Since situation is serious, it would not be out of place to deploy secret agents in the trading community, to blow the whistle and apprehend profiteering traders who take undue advantage of the supply and demand situation.
Bad idea.

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