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re: Should price gouging be allowed?
Posted on 9/1/21 at 3:45 pm to RogerTheShrubber
Posted on 9/1/21 at 3:45 pm to RogerTheShrubber
quote:
No offense, but you're clueless about basic economics
You're not capable of offending me.
There's not a one size fits all answer to this question.
Maybe gouging is appropriate for things like generators. Maybe it's effective for things like gas and bottled water after a certain amount.
But you're not going to convince me or most people that it's okay to charge whatever you want for emergency supplies after a disaster just because you can.
Sure, Billy Bob with the 15 fuel cans in his truck might not give a shite, but the man who works part time and spends the rest of his time taking care of his elderly mother who needs to oxygen to live - he can't afford that.
1
Posted on 9/1/21 at 3:47 pm to wadewilson
quote:
There's not a one size fits all answer to this question.
Yes there is.
If you ban gouging, you're limiting resources. Its that simple.
Posted on 9/1/21 at 3:47 pm to Jack Bauers HnK
quote:
And in a limited supply situation, wouldn’t you want to be able to pay more to get what you need for additional comfort rather than being unable to get what you need because “price gouging” wasn’t allowed and everything is now sold out because it was bought up by people that may not be suffering as much as you are?
People keep saying this like it's a fact. Price gouging isn't going to stop people with more money from panic buying, but it will stop those with less money from getting what they need.
Posted on 9/1/21 at 3:49 pm to bdavids09
It is not gouging if it is the market price and there is open competition amount businesses.
Posted on 9/1/21 at 3:49 pm to RogerTheShrubber
quote:
If you ban gouging, you're limiting resources.
No, you're limiting profiteering, and I don't think a blanket ban is a good solution.
Posted on 9/1/21 at 3:50 pm to wadewilson
quote:
People keep saying this like it's a fact.
It is, and its indisputable.
quote:
Price gouging isn't going to stop people with more money from panic buying,
It will stop intelligent people from hoarding, yes.
This post was edited on 9/1/21 at 3:51 pm
Posted on 9/1/21 at 3:52 pm to RogerTheShrubber
quote:
It will stop intelligent people from hoarding, yes.
It will limit some rational people from hoarding, but humans are not rational actors at the best of times.
Posted on 9/1/21 at 3:52 pm to Festus
quote:
Where did I say I was an anti gouger? Please link.
I simply responded to your callous response about people suffering, and suggesting it’s their own fault for not preparing.
I’m happy to pay a gouged price. But if I can’t get access to the product, I can’t. And your making light of people preparing is really callous. Dude, you’re better than kicking people when they’re down.
Right?
most people didnt prepare is the problem.
Posted on 9/1/21 at 3:53 pm to wadewilson
quote:
It will limit some rational people from hoarding, but humans are not rational actors at the best of times.
People will "hoard" when price is low. People buy only what they need when the price is too high.
Again, this is basic economics.
Posted on 9/1/21 at 3:54 pm to RogerTheShrubber
It’s very clear who has and hasn’t taken any form of an economics course in this thread 
Posted on 9/1/21 at 3:55 pm to lsu777
quote:
most people didnt prepare is the problem.
My point is that it’s nearly impossible to completely prepare a disaster like this.
Posted on 9/1/21 at 3:56 pm to MrJimBeam
quote:
It’s very clear who has and hasn’t taken any form of an economics course in this thread
Yah, this isn't even complictaed stuff. Just the basics you learn in two weeks.
Posted on 9/1/21 at 4:00 pm to armsdealer
quote:
It is not gouging if it is the market price and there is open competition amount businesses.
What usually happens is some dude stocks up on cheap supplies, starts selling them for a profit during a time of disaster. Others hear its profitable, throw their hat in the ring, competition lowers prices.
Posted on 9/1/21 at 4:03 pm to wadewilson
quote:
with more money from panic buying, but it will stop those with less money from getting what they need.
And the ones that can’t afford will riot and take from those who can, you know let them eat cake. Same concept, and people will call people animals for trying to survive when they are priced to survive and told to die.
Posted on 9/1/21 at 4:08 pm to bdavids09
People are the worst when it comes to hoarding and panic buying
Selfishness at its finest
Selfishness at its finest
Posted on 9/1/21 at 4:12 pm to bdavids09
quote:no absolutely not. the market isn't perfect and doesn't have all the answers.
hould price gouging be allowed?
anyone who thinks yes is as absolute naive dolt.
Posted on 9/1/21 at 4:13 pm to Festus
quote:
My point is that it’s nearly impossible to completely prepare a disaster like this.
A generator and window or portable ac is, what, a month or two of rent/mortgage for most people? Twenty 5gal containers of gas filled the week before a storm would be another few hundred dollars and they can use the unused gas in their vehicles after power returns. Its not hard to stock up on non-perishables and that generator can run their fridge/freezer too.
If they can’t be bothered to invest that amount into their own self-sufficiency and choose to live life relying on the instant availability of gas, food, etc. at local merchants, they’re going to have it rougher than those willing to prepare when disaster strikes.
Posted on 9/1/21 at 4:44 pm to Ronaldo Burgundiaz
quote:
If I have a tanker full of gasoline in Tennessee, what is the incentive to take it to Louisiana? I am legally bound to sell it at practically the same price here and there.
It's not that simple. The demand is higher in Louisiana. The incentive is that you can have the tanker sold in one day and bring another tomorrow and repeat for a couple weeks probably. In Tennessee you will be at normal demand and sell your one tank every week or two compared to the one tank a day in Louisiana.
Same thing at a gas station. If they have more fuel to sell, they will make more money on all of their extra items vs just jacking up the price.
On a side note, it is clear many people in this thread don't actually understand what price gouging is. A quick lesson: if all the gas stations in an area raise their prices by a decent amount, that is not price gouging because that is a provable market value as everyone would still be buying it. Price gouging would be a store raising it's price higher than the other two gas stations at that interstate exit because the other two are out of gas and this store can get that higher price per gallon now.
Posted on 9/1/21 at 4:52 pm to Steadyhands
quote:
It's not that simple. The demand is higher in Louisiana. The incentive is that you can have the tanker sold in one day and bring another tomorrow and repeat for a couple weeks probably. In Tennessee you will be at normal demand and sell your one tank every week or two compared to the one tank a day in Louisiana.
Same thing at a gas station. If they have more fuel to sell, they will make more money on all of their extra items vs just jacking up the price.
On a side note, it is clear many people in this thread don't actually understand what price gouging is. A quick lesson: if all the gas stations in an area raise their prices by a decent amount, that is not price gouging because that is a provable market value as everyone would still be buying it. Price gouging would be a store raising it's price higher than the other two gas stations at that interstate exit because the other two are out of gas and this store can get that higher price per gallon now.
So in your examples where a tanker is coming in every day to each of these three stations, people can decide whether to pay the “gouging” price now or regular price tomorrow (or whenever the other stations get their next shipment). People traveling on the interstate can decide whether to pay the gouging price now or wait for a cheaper station at the next exit.
In any event, if that station is the only station with gas, that gouging price is going to reduce the demand and keep the supply longer for those that need it most. Otherwise, that limited supply will be exhausted quickly and then no one will have any.
Posted on 9/1/21 at 4:53 pm to bdavids09
quote:
But then I understand how low income would be hurt and necessities would only be for the rich.
Why you hate capitalism, baw?
This post was edited on 9/1/21 at 4:54 pm
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