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re: Price gouging laws predictably lead to shortages
Posted on 8/31/17 at 8:47 am to Ebbandflow
Posted on 8/31/17 at 8:47 am to Ebbandflow
I don't believe in the concept of 'gouging' so that argument doesn't register with me.
The 500% increase is an opportunity for others to charge less and undercut the first guy. Or flood the market because prices are high therefore increasing supply. I see no problem.
The 500% increase is an opportunity for others to charge less and undercut the first guy. Or flood the market because prices are high therefore increasing supply. I see no problem.
This post was edited on 8/31/17 at 8:48 am
2
Posted on 8/31/17 at 8:51 am to weagle99
Put it this way: If I see that water is selling for $10 a bottle then me any my buddies might fill up a truck with water and head to Houston to make a profit.
If water is scarce and the government says it must sell for $1 a bottle then I have no incentive to truck water in and the supply remains limited at the disaster site.
If water is scarce and the government says it must sell for $1 a bottle then I have no incentive to truck water in and the supply remains limited at the disaster site.
Posted on 8/31/17 at 8:55 am to weagle99
quote:
don't believe in the concept of 'gouging' so that argument doesn't register with me.
The 500% increase is an opportunity for others to charge less and undercut the first guy. Or flood the market because prices are high therefore increasing supply. I see no problem.
The problem is no one charges 500% until they have a monopoly which is definitely a concern
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