“It’s idiotic, it’s dangerous and it will never work.” Lord Stuart Rose, former Asda chairman, is outraged that the government has asked supermarkets to cap prices to support people with the cost of living. Economist James Meadway says supermarkets make huge profits – and some of that surplus could be used to help people on their daily shop. The price of food reflects how people are treated in society, he says. And a “moral economy” prices food fairly.

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