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Message
Price gouging laws train people to depend on government during a crisis
Posted on 9/10/18 at 10:20 am
Posted on 9/10/18 at 10:20 am
The profit motive is the most effective way for scarce resources to end up in the hands of people that actually need them. Government comes along and shuts this down which conveniently for them eliminating private sector competition, causing people to only see government as the savior during an emergency.
Everyhting about price gouging laws offends me as a small government, free market believer.
Everyhting about price gouging laws offends me as a small government, free market believer.
This post was edited on 9/10/18 at 10:35 am
19
Posted on 9/10/18 at 10:23 am to weagle99
Epipens literally are like $1000 each. Seems the government didn't do shite about that price gouge. I know a competitor was just made though.
Posted on 9/10/18 at 10:24 am to weagle99
It is not price gouging, it is capitalism doing the best job possible of allocating limited resources to where they are best needed. Price gouging is a pejorative term that needs to be purged from your vocabulary.
Posted on 9/10/18 at 10:41 am to Stingray
quote:
It is not price gouging, it is capitalism doing the best job possible of allocating limited resources to where they are best needed. Price gouging is a pejorative term that needs to be purged from your vocabulary.
Nonsense, price gouging is a real thing. For example, if you own a grocery store in town and are selling bottled water for $1 a bottle and then a natural disaster, or what have you , occurs and you raise the price to $15 a bottle, that's price gouging. Has nothing to do with "capitalism" that is simply taking advantage of people at that point.
You moron "conservatives" who believe government has no role are as stupid as the moron liberals who believe the government should control everything.
Posted on 9/10/18 at 10:56 am to weagle99
quote:
The profit motive is the most effective way for scarce resources to end up in the hands of people that actually need them. Government comes along and shuts this down which conveniently for them eliminating private sector competition, causing people to only see government as the savior during an emergency.
Everyhting about price gouging laws offends me as a small government, free market believer.
The overwhelming disgust with price gouging indicates that it's rejection is cultural - it is generally considered morally offensive. I don't think the economic justification has ever or ever will resonate.
Posted on 9/10/18 at 10:58 am to HeyHeyHogsAllTheWay
quote:
Nonsense, price gouging is a real thing. For example, if you own a grocery store in town and are selling bottled water for $1 a bottle and then a natural disaster, or what have you , occurs and you raise the price to $15 a bottle, that's price gouging.
Excellent quote that illustrate how some Americans are ignorant about economics.
Your comment unintentionally supports my assertion.
This post was edited on 9/10/18 at 11:03 am
Posted on 9/10/18 at 11:01 am to cwill
quote:
it is generally considered morally offensive.
Mainly because people don’t understand how our system is supposed to work and are too emotional to acknowledge the effectiveness of the market even when the evidence is right in front of them.
But I agree with you, I think we are too far gone.
This post was edited on 9/10/18 at 11:14 am
Posted on 9/10/18 at 11:03 am to HeyHeyHogsAllTheWay
quote:
Nonsense, price gouging is a real thing. For example, if you own a grocery store in town and are selling bottled water for $1 a bottle and then a natural disaster, or what have you , occurs and you raise the price to $15 a bottle, that's price gouging. Has nothing to do with "capitalism" that is simply taking advantage of people at that point.
Sounds like demand just skyrocketed without an adequate way to adjust supply in a timely manner to properly be able to meet that demand to me
Posted on 9/10/18 at 11:03 am to HeyHeyHogsAllTheWay
quote:
You moron "conservatives" who believe government has no role are as stupid as the moron liberals who believe the government should control everything.
Stahhppp. You're hurting my feelings.
Posted on 9/10/18 at 11:04 am to weagle99
quote:
Excellent quote that shows how Americans are ignorant about economics.
What are you talking about dummy? My post has nothing to do with economics.
Something can be both economically true and morally repugnant, and saying price gouging exists doesn't mean that an economic explanation for it doesn't exist.
Pretty simple concept really. I mean yeah okay in a free capitalist environment a bottle of water may be worth $9 a bottle after a hurricane, but that's morally repugnant and we aren't a 100% free capitalist society anyway.
Posted on 9/10/18 at 11:05 am to HeyHeyHogsAllTheWay
You are exhibiting a complete, perhaps willful disregard of supply and demand with your emotional bleatings.
This post was edited on 9/10/18 at 11:06 am
Posted on 9/10/18 at 11:06 am to GoCrazyAuburn
Yep. And if the price is artificially held low, there will be shortages and/or hoarding.
Posted on 9/10/18 at 11:06 am to HeyHeyHogsAllTheWay
quote:
Nonsense, price gouging is a real thing. For example, if you own a grocery store in town and are selling bottled water for $1 a bottle and then a natural disaster, or what have you , occurs and you raise the price to $15 a bottle, that's price gouging. Has nothing to do with "capitalism" that is simply taking advantage of people at that point.
The counter argument is that when you raise the price during this time of scarcity you make sure that people only take what they need and the scarce resource is thereby distributed according to actual need. If you leave price of a scarce resource too low, the first couple of people will take it all and then there is none left for people who need it.
The issue really isn't as simple as you try to make it.
Posted on 9/10/18 at 11:07 am to HeyHeyHogsAllTheWay
quote:
if you own a grocery store in town and are selling bottled water for $1 a bottle and then a natural disaster, or what have you , occurs and you raise the price to $15 a bottle, that's price gouging. Has nothing to do with "capitalism" that is simply taking advantage of people at that point.
So now I will grab 20 bottles leaving less or sometimes even none for anyone else. Say at $15 a bottle I will only purchase what I need.
Simple supply and demand. A natural disaster normally means high demand and low/unknown supply. Price goes up.
Posted on 9/10/18 at 11:07 am to teke184
quote:
And if the price is artificially held low, there will be shortages and/or hoarding.
That is exactly the real world point that the downvoters in this thread refuse to acknowledge despite evidence to the contrary being observed again and again.
Posted on 9/10/18 at 11:08 am to weagle99
I would argue that FEMA and HUD coming in after disasters with billions in recovery dollars (admittedly not all goes where it should or how everyone feels it should) trains people and local leaders to be dependent on the government.
Why take measures to lessen risk when Uncle Sam will bail you out and/or stimulate your economy with free money?
Why take measures to lessen risk when Uncle Sam will bail you out and/or stimulate your economy with free money?
Posted on 9/10/18 at 11:08 am to HeyHeyHogsAllTheWay
quote:
What are you talking about dummy? My post has nothing to do with economics.
Lord knows that last part is true.
Posted on 9/10/18 at 11:10 am to HeyHeyHogsAllTheWay
quote:
My post has nothing to do with economics.
Posted on 9/10/18 at 11:14 am to Stingray
I’m not surprised at that opinion, because for many of you, anything goes.However, to dress up price gouging as simple free market capitalism is disingenuous. In most circumstances the true “market “ has been upended.
Posted on 9/10/18 at 11:15 am to southern686
quote:
So now I will grab 20 bottles leaving less or sometimes even none for anyone else.
So what if you do? That argument makes no sense.
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