In any democracy, and more particularly, the economy is not centrally planned, there will always be competing economic interests.
Of course, we have diverse interests in politics, with opposing interests supporting this party or another, and we also have it in business and commerce among the merchants themselves who keenly compete for market share.
But what seems missing in Barbados is a vibrant organization which promotes in a fair and unbiased manner, but in a vigorous way, the interests of consumers; and the recent launch of what we have been promised will be an organization designed to fill that gap, is news which is to be welcomed.
From time to time, many organizations have advertised themselves as speaking for the consumer; but a powerful, widely spread grouping of consumers who advocate for the interests of consumers in a fair and balanced manner is a necessity.
Such an organization should put to rest allegations that merchants engage in price gouging because we anticipate that a properly organized consumer body would keep its radar focused on any irregularity or sudden jump in the prices of goods, and would bring the entire consumer body with its built-in economic power to bear on the offending merchant.
It is true that regulation, in the form of a Fair Trading Commission or a price control department within a ministry, provides a degree of scrutiny to the business of selling whether wholesale or retail, but the speed with which the consumer can react to unscrupulous and greedy behaviour by retailers would be a salutary reminder that the consumer is king!
It is the combined economic power of a large numbers of consumers that speaks to the concerns of the consumers and acts as a brake on runaway capitalism.
The refusal by a large swathe of consumers to patronize a particular merchant may often mean the difference between success and failure for a particular enterprise whose owner offends by charging exorbitant or unfair prices or whose goods are of a consistently questionable quality.
But a critical element in these types of organizations is consumer support. The benefits of large scale and serious commitment to consumer power can only be secured at a price. Consumers must be prepared to support, by their pockets, the umbrella organization which seeks to properly represent their interests.
We note that the Barbados Association of Retired Persons is doing a good job lobbying on behalf of the interests of retired persons, and those among us who feel an obligation to promote and defend the interests of consumers may well take a leaf out of BARP’s book.
As always, the bottomline is clear. The work must be put into the organization, if the results are to be produced, and consumers must now be prepared to fund, through their contributions, an association which can assist the Government and themselves in promoting reasonable prices and proper quality.
Price controls alone cannot protect the totality of consumer interests!
