Restrictions on the Freedom of Occupation: A Study of State Intervention in Price Determination

Abstract

This research consists purposes were 1. to study and analyze the legal and economic concepts related to market intervention through price control measures under the Price Control Act B.E. 2542 (1999) 2. to study and compare the legal principles and price control measures of Malaysia and Vietnam with those of Thailand 3. to analyze the problems and impacts of price control under the Price Control Act B.E. 2542 (1999) on the economy, market system, producers, distributors and consumers and 4. to suggest guidelines for improving and developing the Price Control Act to be more appropriate to the current economic context. This study employed a qualitative research approach through a documentary research method. Relevant documents were systematically reviewed and the data obtained from these documentary sources were analyzed using content analysis. The findings indicate that 1) while price control measures aim to protect consumers and maintain economic stability, they create limitations and negative impacts on the economic system, market mechanisms, and the structure of trade competition rather than providing public benefits and 2) the price control laws of Thailand, Malaysia and Vietnam, countries in the same region with similar economic structures, differ in their approaches to maintaining price stability and protecting consumers and preventing excessive profiteering 3) Improving and developing the law on prices of goods and services to be appropriate to the current economic context, which includes controlling unnecessary goods, using discretion without clear criteria, inappropriate duration of price controls, price control measures that hinder growth and trade competition, price controls that discourage producers from developing new products and the enforcement of laws by government agencies and 4) Guidelines for improving and developing the law on prices of goods and services to be appropriate to the economic context include two approaches legal recommendations and practical recommendations.