Welfare Issues in Price Control on Occasions of Calamities, Emergencies, and Like Occurrences

This study focuses on the implications of RA7581 during disaster events, and answer issues on the effects of price control on consumer protection and local economic recovery as well as provides discourse on the effects of price control imposition during occasions of calamities, emergencies and like occurrences. Traditional interventions during and after major disaster events usually focus on the welfare of individuals and households, often at the expense or neglect of local economic recovery. The Price Act (RA7581) establishes a mechanism that supposedly protects consumers from inadequate supply of goods and unreasonable price increase in occasions of disasters and emergencies. RA7581 is an example of a double-edged policy which protects a section of the populace (consumers) and holds back another (local enterprises).