For your final assignment, you will be responsible for completing an assessment on a country of your choice that still exercises price/wage controls today.
1) You can report on any country that has exercised controls from the year 2000 on. Your assessment has to be in Word format.
2) It must include a brief history of the country of choice explaining how they got to the economic state that warranted such price/wage controls and why they chose to take that route for economic recovery.
3) You must also include the type of price/wage controls in place including a few example items/career titles with their prices before and during controls if available and an assessment of the effectiveness of the controls as well as their consequences.
4) Finally, what is your opinion of the prospective state of this country’s economy given the system of controls put into place over the next 10 years if they have recently done away with controls or explain what has happened in that country after controls were dismantled if they have been dismantled for several years already? –What recommendations would you make for this country’s economic recovery given what you have learned over the span of this course from previous countries’ experiences? Looking forward to seeing your work!
These are three we article links on the country’s current use of price/wage controls (If you need more information you can look into others website)
https://journals.openedition.org/chinaperspectives/3063
https://www.china-briefing.com/news/minimum-wages-china-2021/
https://www.ft.com/content/a49d39f4-f17b-11df-8609-00144feab49a
Sample Solution
