Free trade and Price Controls in Islamic perspective

I have my utmost believe that Islam gives me the answer of all my problems, but I would not expect to find the answer of my research questions in Qur'an or Hadith

I was very surprised when I found this fact

Free Trade & Price Controls

In Islam, the basic principle with regard to trade is that the market should be left free to respond to the forces of supply and demand and natural competition. This means that price controls, tariffs, and any other barriers should be removed so that trade can be free and fair. In the exchange of commodities in Mecca during the time of the Prophet Muhammed (pbuh), prices fluctuated according to market conditions. If price controls compel people to sell their goods at a price that is not acceptable to them or denies them the reasonable profit permitted by Allah, it is haraam (not permitted). Thus, when prices became high in the Prophet Muhammad’s (pbuh) time and people asked him to fix prices for them, he replied:

“Allah is the One Who fixes prices, Who withholds, Who gives lavishly, and Who provides, and I hope that when I meet Him none of you will have a claim against me for any injustice with regard to blood or property.” (Reported by Ahmad, Abu Daoud, al-Tirmidhi, Ibn Majah, al-Dari and Abu Y'ala.)

This saying implies that unnecessary interference in the freedom of individuals is injustice and that one should meet Allah free of blame for such action. However, there is an important exception to the general policy of support of free trade. If any artificial forces, such as hoarding and the manipulation of prices by certain merchants interfere in the operation of the free market, then public interest takes precedence over the freedom of individuals. In such circumstances, price controls do become permissible in order to meet the needs of the society and to protect it from exploitation and injustice. The aforementioned saying of the prophet Muhammad does not imply that price control is prohibited regardless of the circumstances, even if it removes harm and prevents obvious injustice.

source: http://www.islamic-relief.org.uk/

Subhanallah, MashaAllah. Interim presentation, here I come