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Started By
Message
"Price gouging"
Posted on 3/16/20 at 12:57 am
Posted on 3/16/20 at 12:57 am
Are there really that many people who don't understand that the term itself is ridiculous and that the ability to raise prices during a shortage is essential? It appears so. We have truly become a society who thinks with their feels rather than logic.
12
Posted on 3/16/20 at 1:22 am to deuceiswild
Exactly, supply and demand. Who has the authority to set a price. If I own all the product and you want some, I set a price. If you don't like the price, you don't buy it, extremely simple. If I don't sell any, I may go out of business. But I control what I set my prices at. Apple pays under $50 to make a phone and sells it for $1000, how is that not "price gouging". Just because I paid $0.50 for my hand sanitizer does not mean that i'm forced to sell it at that price. Don't like the price, don't buy it, simple
Posted on 3/16/20 at 3:43 am to deuceiswild
quote:
"Price gouging"
Are there really that many people who don't understand that the term itself is ridiculous
Nitwits clearing local merchants shelves of hand sanitizer, creating a potentially hazardous local shortage, then reselling the product at $30 a bottle would seem to qualify.
Posted on 3/16/20 at 3:48 am to deuceiswild
Price gouging is a term that is generally restricted to items like food, water, medicines, and other things important to the continuation of life. Nobody applies it to an iPhone.
It's an acknowledgement that there are certain limits to which capitalism and the profit motive can be allowed to function in a civilized and moral society. Intentionally creating a situation where you let other humans get sick or die to make a buck is one of those limits.
Read Luke 10:25-37 if you need further clarification.
It's an acknowledgement that there are certain limits to which capitalism and the profit motive can be allowed to function in a civilized and moral society. Intentionally creating a situation where you let other humans get sick or die to make a buck is one of those limits.
Read Luke 10:25-37 if you need further clarification.
This post was edited on 3/16/20 at 3:52 am
Posted on 3/16/20 at 4:21 am to Boatshoes
This place really loves its price gouging..
It comes down to the necessity and availability. Hand sanitizer is a good thing to have, but not a necessity and it’s being restocked on shelves daily if you can get to the store early enough. If people would pay $30/bottle online, have at it.
Every human needs water to survive. Should water be sold for $40/case after a local disaster that knocks out running water? If it costs $38/case to get the water to the store and they want to keep a margin, I guess. But society is not better off overall if the seller pockets $38 at the expense of every buyer
It comes down to the necessity and availability. Hand sanitizer is a good thing to have, but not a necessity and it’s being restocked on shelves daily if you can get to the store early enough. If people would pay $30/bottle online, have at it.
Every human needs water to survive. Should water be sold for $40/case after a local disaster that knocks out running water? If it costs $38/case to get the water to the store and they want to keep a margin, I guess. But society is not better off overall if the seller pockets $38 at the expense of every buyer
Posted on 3/16/20 at 4:24 am to deuceiswild
quote:
Are there really that many people who don't understand that the term itself is ridiculous and that the ability to raise prices during a shortage is essential?
I don't think you understand what price gouging is.
Posted on 3/16/20 at 4:33 am to deuceiswild
Also, you notice how everyone has set limits on quantities you can buy of essentials? Research says consistent supply does as much as price controls to curb panic buying
Posted on 3/16/20 at 4:36 am to ClampClampington
quote:If hand sanitizer is the determiner of an individual's health vs his death in two weeks d/t CV pneumonia, then it is a necessity.
Hand sanitizer is a good thing to have, but not a necessity
Posted on 3/16/20 at 4:47 am to deuceiswild
Price gouging is a made up term used by socialist's/communists to guilt the seller into lowering their prices, all it means is means “someone is charging more than I wish he was” It is supply and demand and if you don't like it you're a communist and need to be deported. Nobody is forcing you to buy anything, quit crying it is called the free market. How people are so low IQ in life I will never know. Horrible
Posted on 3/16/20 at 4:48 am to Man With A Plan
quote:
Price gouging is a made up term used by socialist's/communists to guilt the seller into lowering their prices, all it means is means “someone is charging more than I wish he was” It is supply and demand and if you don't like it you're a communist and need to be deported. Nobody is forcing you to buy anything, quit crying it is called the free market. How people are so low IQ in life I will never know. Horrible
OK, boomer.
Posted on 3/16/20 at 4:49 am to Boatshoes
quote:You don't get to just make up your own definitions, that is not what it means at all. It is a made up term used by anti-captalists and communist sympathizers who hate America and what is stands for.
Price gouging is a term that is generally restricted to items like food, water, medicines, and other things important to the continuation of life.
Posted on 3/16/20 at 4:50 am to SlickRickerz
quote:
Exactly, supply and demand. Who has the authority to set a price. If I own all the product and you want some, I set a price. If you don't like the price, you don't buy it, extremely simple. If I don't sell any, I may go out of business. But I control what I set my prices at. Apple pays under $50 to make a phone and sells it for $1000, how is that not "price gouging". Just because I paid $0.50 for my hand sanitizer does not mean that i'm forced to sell it at that price. Don't like the price, don't buy it, simple
The sanity and logic and efficacy of that statement is enough to send the DIMocraps running for their hiding hole.
Now - in a declared emergency I would not object to a restriction on hoarding - e.g. no sense allowing some rich guy to purchase all the bottled water in an afflicted hurricane disaster area.
Posted on 3/16/20 at 5:00 am to Man With A Plan
quote:
resources, or other article of commerce, and includes, without limitation, food, water, ice, chemicals, petroleum products, and lumber necessary for consumption or use as a direct result of the emergency.
Making it up? It’s about verbatim in every statute by states that have gouging laws
Posted on 3/16/20 at 5:00 am to Man With A Plan
quote:
You don't get to just make up your own definitions, that is not what it means at all. It is a made up term used by anti-captalists and communist sympathizers who hate America and what is stands for.
Oh for frick's sake.
Posted on 3/16/20 at 5:01 am to ChineseBandit58
quote:
ChineseBandit58
Oh great. The "conservative" has provided us with his take.
Posted on 3/16/20 at 5:06 am to NC_Tigah
quote:
Nitwits clearing local merchants shelves of hand sanitizer, creating a potentially hazardous local shortage, then reselling the product at $30 a bottle would seem to qualify.
As I've pointed out
These people exist BECAUSE we don't allow what fools call "price gouging"
Basically, the whole point of being able to raise the price when demand goes thru the roof is to prevent buying what more than you really need. In other words, to prevent hoarding.
But, since we don't allow this, or at least it's SEVERELY frowned upon, you get the nitwits you speak of.
Posted on 3/16/20 at 5:06 am to deuceiswild
What we should be doing is cutting taxes so that producers can hire workers to increase the supply to satisfy the demand. If that happens, markets sort out the prices and they lower naturally. All this economic stimulus is doing a lot for demand, but it’s not doing a lot for the supply side.
Posted on 3/16/20 at 5:08 am to ChineseBandit58
quote:
Now - in a declared emergency I would not object to a restriction on hoarding - e.g. no sense allowing some rich guy to purchase all the bottled water in an afflicted hurricane disaster area.
Right, during emergencies we typically try to ration necessities without relying on price controls because it’s the biggest net gain for society.
And there is a difference between charging higher prices to the customer because of increased costs to the buyer and selling at 600% market value on essential commodities
Posted on 3/16/20 at 5:12 am to ClampClampington
quote:Agreed.
And there is a difference between charging higher prices to the customer because of increased costs to the buyer and selling at 600% market value on essential commodities
I tend to agree that in an emergency, you should be able to limit total purchases.
That said, one element missed regarding raising prices is that it tends to greatly reduce buying more than you need.
Even in a ration environment, absent price change, basically everyone buys the max.
Price can discourage such buying. Basically, if I'm there to buy water and I know I only really need 3 cases, but it's still cheap, I'm probably gonna buy 4 or 5. But, if they've spiked a little in price, I probably stick with 3. Or hell, maybe I figure out how to make do with 2.
Bottom line. Price allows MORE PEOPLE to have access to the item because, well...……...a million bucks won't help you if it's out of stock.
Posted on 3/16/20 at 5:32 am to ShortyRob
Higher prices absolutely does discourage consumption, but natural disasters and emergencies cause local markets to become very distorted and buyers irrational. I was stuck in line behind a lady buying 70 cans of soup yesterday morning. If each can was $4 instead of $2, she probably switches to alternatives.
But in the case of water, she probably has no issue paying 100% more for whatever quantity she thinks she needs. Just like I don’t give a shite if a dozen eggs are .99 or $6/carton, they are in my cart every Saturday morning
But in the case of water, she probably has no issue paying 100% more for whatever quantity she thinks she needs. Just like I don’t give a shite if a dozen eggs are .99 or $6/carton, they are in my cart every Saturday morning
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