Oireachtas Joint and Select Committees
Wednesday, 10 November 2021
Committee on Budgetary Oversight
Inflation: Discussion
Dr. Ella Kavanagh:
I will speak about what we can we do at this moment. I would not recommend price and wage controls. I do not believe that system, in particular price controls, works because we would just be trying to keep a lid on prices. Given the fact that prices are externally determined anyway, controls would be difficult to impose. Since we are operating in a market economy, it would be difficult to do.
I will pass over to Professor Whelan and give the Deputy's question a little more thought, if possible.