Market works wonders
In our first piece, we began the inquiry into the functioning of markets in Guyana noting that the members of the private sector-households and the business community-were inextricably locked in a dependent relationship of mutual survival. Yet, too many things seem to be wrong that leave both sides suspicious of each other, and not looking out for each others’ interests in what should be a relationship of mutual interest. The market is where all the transactions between the two economic agents come together and it is where the inquiry continues.
In the perfect world, the market works wonders. It allocates re-sources between buyers and sellers. It establishes the quantity that sellers are willing to make available to buyers. It also establishes the amount that buyers are willing to purchase. Because of competition, perceived or real, it leads to the availability of better products and services that cater to the convenience and comforts of households and businesses. The instrument that makes the market work well is price which itself is supposed to settle at a
