1 week, 5 days ago
How producer bias affects consumers
The HinduProducer bias refers to the bias that economic policymakers have to frame policies that are in favor of the interests of producers rather than in the general interest of consumers. Producer bias adversely affects economic growth of a country as policies that are favorable towards producers adversely affect the living standards of the general population. Moreover, even producers are ultimately consumers and will thus suffer in the long-run from policies that have a producer bias. Removing such a restriction on the entry of new producers would help consumers enjoy more and better products, improving their living standards.