Correct, timely government intervention
<p><span word="The">The</span> <span word="government">government</span> <span word="of">of</span> <span word="Lanzhou">Lanzhou</span> <span word="could">could</span> <span word="not">not</span> <span word="have">have</span> <span word="anticipated">anticipated</span> <span word="that">that</span> <span word="its">its</span> <span word="decision">decision</span> <span word="last">last</span> <span word="week">week</span> <span word="to">to</span> <span word="cap">cap</span> <span word="the">the</span> <span word="price">price</span> <span word="of">of</span> <span word="beef">beef</span> <span word="noodle">noodle</span>, <span word="a">a</span> <span word="regular">regular</span> <span word="breakfast">breakfast</span> <span word="of">of</span> <span word="the">the</span> <span word="Northwest">Northwest</span> <span word="China">China</span> <span word="city">city</span>'<span word="s">s</span> <span word="residents">residents</span>, <span word="would">would</span> <span word="have">have</span> <span word="yielded">yielded</span> <span word="a">a</span> <span word="by">by</span>-<span word="product">product</span> - <span word="food">food</span> <span word="for">for</span> <span word="thought">thought</span>.</p><p><span word="After">After</span> <span word="the">the</span> <span word="local">local</span> <span word="media">media</span> <span word="reported">reported</span> <span word="that">that</span> <span word="the">the</span> <span word="price">price</span> <span word="administration">administration</span> <span word="of">of</span> <span word="the">the</span> <span word="Lanzhou">Lanzhou</span> <span word="municipal">municipal</span> <span word="government">government</span> <span word="ruled">ruled</span> <span word="that">that</span> <span word="the">the</span> <span word="price">price</span> <span word="of">of</span> <span word="a">a</span> <span word="regular">regular</span> <span word="bowl">bowl</span> <span word="of">of</span> <span word="the">the</span> <span word="noodle">noodle</span> <span word="should">should</span> <span word="not">not</span> <span word="exceed">exceed</span> 2.50 <span word="yuan">yuan</span> (32 <span word="cents">cents</span>), <span word="commentators">commentators</span> <span word="of">of</span> <span word="traditional">traditional</span> <span word="and">and</span> <span word="modern">modern</span> <span word="media">media</span> <span word="outlets">outlets</span> <span word="across">across</span> <span word="the">the</span> <span word="country">country</span> <span word="became">became</span> <span word="excited">excited</span>. <span word="Criticizing">Criticizing</span> <span word="the">the</span> <span word="local">local</span> <span word="government">government</span>, <span word="they">they</span> <span word="all">all</span> <span word="used">used</span> <span word="the">the</span> <span word="same">same</span> <span word="accusation">accusation</span>: "<span word="Violation">Violation</span> <span word="of">of</span> <span word="market">market</span> <span word="rules">rules</span>".</p><p><span word="Though">Though</span> <span word="expressed">expressed</span> <span word="in">in</span> <span word="different">different</span> <span word="ways">ways</span>, <span word="they">they</span> <span word="all">all</span> <span word="based">based</span> <span word="their">their</span> <span word="arguments">arguments</span> <span word="on">on</span> <span word="a">a</span> <span word="common">common</span> <span word="understanding">understanding</span>, <span word="the">the</span> <span word="rise">rise</span> <span word="and">and</span> <span word="fall">fall</span> <span word="of">of</span> <span word="the">the</span> <span word="price">price</span> <span word="of">of</span> <span word="a">a</span> <span word="commodity">commodity</span> <span word="should">should</span> <span word="be">be</span> <span word="left">left</span> <span word="to">to</span> <span word="market">market</span> <span word="forces">forces</span>, <span word="which">which</span> <span word="exerts">exerts</span> <span word="influence">influence</span> <span word="according">according</span> <span word="to">to</span> <span word="the">the</span> <span word="fluctuation">fluctuation</span> <span word="of">of</span> <span word="supply">supply</span> <span word="and">and</span> <span word="demand">demand</span>. <span word="If">If</span> <span word="the">the</span> <span word="price">price</span> <span word="exceeds">exceeds</span> <span word="a">a</span> <span word="certain">certain</span> <span word="level">level</span>, <span word="consumers">consumers</span> <span word="would">would</span> <span word="shun">shun</span> <span word="the">the</span> <span word="commodity">commodity</span> <span word="for">for</span> <span word="alternatives">alternatives</span>; <span word="the">the</span> <span word="dwindled">dwindled</span> <span word="demand">demand</span> <span word="would">would</span> <span word="then">then</span> <span word="force">force</span> <span word="the">the</span> <span word="price">price</span> <span word="to">to</span> <span word="return">return</span> <span word="to">to</span> <span word="a">a</span> <span word="reasonable">reasonable</span> <span word="level">level</span>. <span word="This">This</span> <span word="is">is</span> <span word="one">one</span> <span word="of">of</span> <span word="the">the</span> <span word="core">core</span> <span word="theories">theories</span> <span word="of">of</span> <span word="classical">classical</span> <span word="economics">economics</span>.</p><p><span word="However">However</span>, <span word="a">a</span> <span word="complete">complete</span> <span word="or">or</span> <span word="perfect">perfect</span> <span word="model">model</span> <span word="of">of</span> <span word="market">market</span> <span word="mechanism">mechanism</span> <span word="is">is</span> <span word="only">only</span> <span word="an">an</span> <span word="ideal">ideal</span> <span word="concept">concept</span>, <span word="which">which</span> <span word="never">never</span> <span word="exits">exits</span> <span word="in">in</span> <span word="reality">reality</span>. <span word="Real">Real</span> <span word="market">market</span> <span word="conditions">conditions</span> <span word="are">are</span> <span word="much">much</span> <span word="more">more</span> <span word="complicated">complicated</span>. <span word="Non">Non</span>-<span word="market">market</span> <span word="forces">forces</span>, <span word="such">such</span> <span word="as">as</span> <span word="laws">laws</span> <span word="and">and</span> <span word="regulations">regulations</span>, <span word="are">are</span> <span word="needed">needed</span> <span word="to">to</span> <span word="curb">curb</span> <span word="or">or</span> <span word="prevent">prevent</span> <span word="artificial">artificial</span> <span word="moves">moves</span> <span word="that">that</span> <span word="lead">lead</span> <span word="to">to</span> <span word="unfair">unfair</span> <span word="competition">competition</span> <span word="or">or</span> <span word="a">a</span> <span word="distorted">distorted</span> <span word="supply">supply</span> <span word="and">and</span> <span word="demand">demand</span>. <span word="Administrative">Administrative</span> <span word="measures">measures</span> <span word="are">are</span> <span word="also">also</span> <span word="needed">needed</span> <span word="to">to</span> <span word="address">address</span> <span word="non">non</span>-<span word="commercial">commercial</span> <span word="concerns">concerns</span>, <span word="such">such</span> <span word="as">as</span> <span word="protection">protection</span> <span word="of">of</span> <span word="the">the</span> <span word="environment">environment</span> <span word="and">and</span> <span word="energy">energy</span> <span word="sources">sources</span>.</p>
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