One of the hottest topics of the recent election was inflation. One side advocated tighter restraint of federal spending and increased marketplace competition to deal with inflation, while the other side advocated increased government controls and regulation.
Sadly, little attention was focused on the results of each alternative. Grocery stores were demonized as greedy profiteers, and yet few noticed that after-tax profits in these businesses range between only 0.5% and 1.5% of sales. Competition works. What about government control and regulation? Take the healthcare field, for example.
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