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re: Price gouging laws predictably lead to shortages
Posted on 8/31/17 at 8:51 am to weagle99
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.
1
Posted on 8/31/17 at 9:32 am to weagle99
quote:
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.
But the government has NOT said you have to sell water for $1 a bottle. ALL they have said is if the price was fifty cents a bottle on Friday , hurricane hits and suddenly you're charging $5 a bottle on Monday, we have a problem.
And only a complete idiot wouldn't understand that very simple concept. If you are charging 50 cents the day before a hurricane and go to $2 the day after a hurricane nothing will be said. You have not violated the law.
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