this post was submitted on 12 May 2024
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Singapore was able to moderate the price of groceries by opening a government owned grocery store chain called FairPrice in the 70s. This forced all the other stores to actually compete on price. Nowadays grocery stores match or beat FairPrice on cost and (shocker) are still profitable.
It wouldn't solve the production issue though. We shouldn't have to rely on foreigners to grow our food locally but people won't work in that field unless salaries and conditions make sense and that won't happen unless it's nationalized or profits are distributed in a more fair way...