THE SCOURGE OF RENT HIKES IN IRELAND by Concetto La Malfa

(THIS ARTICLE WAS PUBLISHED AS A LETTER BY THE IRISH INDEPENDENT AND THE IRISH DAILY MAIL ON DECEMBER 15TH 2016)
Finally, Minister for Housing Simon Coveney is doing something about the scourge of rent hikes in Irish cities. Let’s rejoice for something is better than nothing in a situation where total rent freeze could and should be considered.
Interestingly, to understand these hikes just consider that not unlike space in physics which was believed to be tri-dimensional  until time was introduced as a fourth dimension, prices of things and services in Ireland, including rents, do not just obey the simple law of supply and demand, for there is a hidden factor which is called “greed”. This means that free economy, which should create pure and simple competition for the benefit of consumers,  gets corrupted resulting in cartels which are anything but pure economics and fair for the consumers.
This goes for a great number of things in this country, from the price charged for a glass of wine in restaurants, which seems to be set at an exorbitant minimum level across the board, when we can easily calculate that restaurateurs are, on average, applying a mark-
up of about 300%, mobile phone network companies and Car insurance companies who are all set to overcharge their customers  in a kind of mutual understanding.