View Poll Results: Is price gouging OK?

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  • No

    14 87.50%
  • Yes

    2 12.50%
  • unsure

    0 0%
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Thread: Is price gouging OK?

  1. #11
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    No.

    And, more often than not, those who engage in such end up hurting themselves, in the long run.



    ACTUALLY, although, I voted "NO," I have realized an instance in which Price Gouging can be "acceptable," although, still somewhat distasteful:

    Several years ago, when they first started doing "Bonaroo" in Tennessee, the local stores simply were not prepared. They ran out of ice, beer, bottled water, pretty much everything.

    I had a buddy who loaded his truck up with bottled water, and some ice (ice did not work out so well), and, a few cases of beer. He drove down to the concert, and made a KILLING on the water and Ice (Cops said NO to selling the beer....he had to take that home for later). Ended up making three trips, with very good profit for a day's work....

    He was "gouging" but, he was also providing a service, that pretty much involved sitting and driving a car back and forth over about 10-12 hours.....

  2. #12
    ~Standing My Ground~ Sassy's Avatar
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    My Aunt just told me that during Sandy food and water prices were inflated.

  3. #13
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    Quote Originally Posted by Sassy View Post
    My Aunt just told me that during Sandy food and water prices were inflated.
    DEPENDING on how much and how long, some of that may have been the price of doing business, as it took longer to get goods in and stocked.

    But, more than likely, many felt it to be "fair" as they had to rebuild and restock their stores. (Which is sort of selfish, in my opinion, but, for some...it may have been the only way to keep their business.)

    It all depends on the whens, whys and wheres.....but, people should not use disaster to profit off basic necessities....

  4. #14
    the "good" prag pragmatic's Avatar
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    It gets a little complex.

    In the "catastrophe zone" you often either need inflated price or rationing. Maybe both, but at least one of them.

    Otherwise the first ones to arrive at the supply depot (grocery, gas station, Target) tend to buy up most everything (excessive to what they actually need). And those that arrive later are left with empty shelves and empty storage tanks at the gas station.


    Just ain't nothing simple in this crazy world.....

  5. #15
    ~Standing My Ground~ Sassy's Avatar
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    Quote Originally Posted by pragmatic View Post
    It gets a little complex.

    In the "catastrophe zone" you often either need inflated price or rationing. Maybe both, but at least one of them.

    Otherwise the first ones to arrive at the supply depot (grocery, gas station, Target) tend to buy up most everything (excessive to what they actually need). And those that arrive later are left with empty shelves and empty storage tanks at the gas station.


    Just ain't nothing simple in this crazy world.....
    Yeah but with gas that didn't stop me. I thought 'well, it will be worse tomorrow. And higher prices everyday.'

  6. #16
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    Quote Originally Posted by Blues63 View Post
    No, it destroys the balance in a society.
    What specifically do you think enables price gouging?

    People will soon be unable to afford to live in their own country and that is beyond absurd. It will be too expensive to heat or cool your house and too expensive to drive. Hell, most Aussies can't afford a house and many rent off Chinese nationals living off shore. A three bedroom weatherboard house in a suburb of a major city will fetch upwards of $500,000!
    Yet Australia is routinely hailed as a bastion of good policy citing its minimum wage increases. Cost of living goes up when things are allowed (or in the case of minimum wages, required) to cost more. People have more money, but it doesn't go as far. That's how inflation works. Relatively strong economies experience inflation sometimes. But even strong economies have their economic weaklings who can't afford prices created by that kind of competition for goods and services, and those folks might be better off living in less competitive places of the country (or world), and to those types of people it will almost always feel a little unfair relative to those who are earning a lot and paying a premium for everything.

  7. #17
    NWO Toilet Cleaner Blues63's Avatar
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    Quote Originally Posted by Neomalthusian View Post
    What specifically do you think enables price gouging?
    In the cited case, a lack of regulation.


    Yet Australia is routinely hailed as a bastion of good policy citing its minimum wage increases. Cost of living goes up when things are allowed (or in the case of minimum wages, required) to cost more. People have more money, but it doesn't go as far. That's how inflation works. Relatively strong economies experience inflation sometimes. But even strong economies have their economic weaklings who can't afford prices created by that kind of competition for goods and services, and those folks might be better off living in less competitive places of the country (or world), and to those types of people it will almost always feel a little unfair relative to those who are earning a lot and paying a premium for everything.
    Not applicable in the case study.

  8. #18
    Senior Member Sparta's Avatar
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    Why is it ok for business to employ job eliminating technology then open a dollar store every 1/4 mile to get to the bottom of everyone's pocket but I can't sell my last pack of gum for $10?

  9. #19
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    Quote Originally Posted by Blues63 View Post
    In the cited case, a lack of regulation.
    How so?

  10. #20
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    Quote Originally Posted by Neomalthusian View Post
    How so?
    An unregulated market has enabled the price gouging in the cited case.

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