prices of agricultural products. Reduces the over-exploitation of producers. Disadvantages of a price floor are: Supply will exceed demand. Resources are wasted. The government may be forced to buy the excess supply or it may be discarded (e.g., in an agricultural context). Price ceiling A related government intervention to price floor, which is also a price control, is the price ceiling; it sets the maximum price that can legally be charged for a good or service, with a common example being rent control. A price ceiling is a price control, or limit, on how high a price is charged for a product, commodity, or service. Governments use price ceilings to protect consumers from conditions that could make commodities prohibitively expensive. Such conditions can occur during periods of high inflation, in the event of an investment bubble, or in the event of monopoly ownership of a product, all of which can cause problems if imposed for a long period without controlled rationing, leading to shortages. Further problems can occur if a government sets unrealistic price ceilings, causing business failures, stock crashes, or even economic crises. In fully unregulated market economies, price ceilings do not exist. While price ceilings are often imposed by governments, there are also price ceilings that are implemented by non-governmental organizations such as companies, such as the practice of resale price maintenance. With resale price maintenance, a manufacturer and its distributors agree that the distributors will sell the manufacturer's product at certain prices (resale price maintenance), at or below a price ceiling (maximum resale price maintenance) or at or above a price floor. Isabella Weber and Paul Krugman debate on price controls In December 2021, Isabella Weber deeply influenced the inflation debate (Allenbach-Ammann & Makszimov, 2022) by suggesting the implementation of price controls in an opinion piece in the Guardian (Weber, 2022). She believes it is the third option to deal with the global energy crisis, next to either waiting for the inflation to pass or raising interest rates and implementing austerity measures. High inflation and record-breaking profits were measured in 2021 (Reuters, 2021). The German Bundesbank found that these profits, and thus the consequent higher prices, are artificially manufactured. Companies are increasing their profit margins as well as costs from supply chain difficulties (Allenbach-Ammann & Makszimov, 2022). Weber compares this high inflation situation of 2021-2022 with the period right after the second world war. Just like the