View Poll Results: Is price gouging OK?

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  • No

    14 87.50%
  • Yes

    2 12.50%
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Thread: Is price gouging OK?

  1. #31
    Senior Member Sparta's Avatar
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    Quote Originally Posted by pragmatic View Post
    For the sake of discussion. Think the topic is focused more on necessities.

    Bottled water and gasoline are getting most or the current attention.
    Supply & demand dictate the price. If I can't resupply my water, then what I have is made more valuable. I still have bills to pay. I also agree that in a state of emergency basic needs should be provided.
    Last edited by Sparta; 2nd September 2017 at 05:09 AM.

  2. #32
    Veteran Member Devil505's Avatar
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    Quote Originally Posted by Neomalthusian View Post
    You're not going to succeed trying to shame people out of attempting to price gouge in times of scarcity. Being upset and angry doesn't solve the problem. As I've said repeatedly, the two things that are most efficient at solving the problem are open markets allowing undercutters to offer goods and services more affordably than a gouger, and in cases like natural disasters, government emergency provision of the needed goods and services in areas where gougers would attempt to gouge. The latter of these doesn't even require dwelling on the fact that some are attempting to gouge. Provide for the needs, and you've met the emergency management objectives while causing the gouging attempt to fail all by itself. Two birds one stone, no enforcement or chasing after assholes required.



    You and other leftists having strong anti-business emotions and communistic sentiments doesn't actually do anything to address the emergency needs of people in Texas. There is no law or policy decision that you could think up which would preclude attempted gouging in natural disaster areas. It's not even worth getting upset about, it's just a distraction from the actual disaster relief that's needed. Focus on providing the disaster relief, and the opportunity for people there to gouge disappears.
    Some people are moral and others aren't.
    See you in church Sunday.

  3. #33
    Master political analyst Dittohead not!'s Avatar
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    Price gouging can be profitable, unless, of course, you get caught:

    Martin Shkreli, Who Raised Drug Prices from $13.50 to $750, Arrested in Securities Fraud Probe


    At a Senate hearing on drug pricing last week, a doctor who treats babies with life-threatening toxoplasmosis testified that a course of treatment with Daraprim went from about $1,200 to no less than $69,000.
    Of course, Shkreli has a lot of money, so it's doubtful he'll have as harsh of a punishment as someone arrested for illegal drugs of one kind or another, or having robbed people in person instead of through price gouging.

  4. #34
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    Quote Originally Posted by Devil505 View Post
    Some people are moral and others aren't.
    No one is "moral" in the ordinary buying and selling of things. No one spends a bunch of energy scrutinizing your moral character when you waddle into whatever store or post some of your junk for sale to your neighbors.

    Quote Originally Posted by Dittohead not! View Post
    Price gouging can be profitable, unless, of course, you get caught:

    Martin Shkreli, Who Raised Drug Prices from $13.50 to $750, Arrested in Securities Fraud Probe
    Medicine is a quasi-public good given that our laws often entitle people to it, either by requiring insurance companies to cover it, or by covering it directly through Medicare and Medicaid, as well as are exceedingly generous with monopoly (patent) privileges for drug makers. Public goods need price regulation so that the makers/providers can't price gouge. The US hasn't been great at this.

  5. #35
    Veteran Member Devil505's Avatar
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    Quote Originally Posted by Neomalthusian View Post
    No one is "moral" in the ordinary buying and selling of things.
    If your neighbor was dehydrated to the point of being near death.....in your world it would be fine to make him pay an exorbitant amount for a drink of water, right?

    Morality and business are mutually exclusive in your world?

  6. #36
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    Quote Originally Posted by Devil505 View Post
    If your neighbor was dehydrated to the point of being near death.....in your world it would be fine to make him pay an exorbitant amount for a drink of water, right?
    I am not a retailer of water, and there is no scarcity here, so this is a rather invalid analogy.

    Morality and business are mutually exclusive in your world?
    It's not that they're mutually exclusive, it's that morality isn't the basis of retail sales.

  7. #37
    Veteran Member Devil505's Avatar
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    Quote Originally Posted by Neomalthusian View Post
    I am not a retailer of water, and there is no scarcity here, so this is a rather invalid analogy.



    It's not that they're mutually exclusive, it's that morality isn't the basis of retail sales.
    Non-answers both times.
    A moral person is moral in all things he does.

    Adolf Hitler was kind to dogs.

  8. #38
    the "good" prag pragmatic's Avatar
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    Quote Originally Posted by Devil505 View Post
    Non-answers both times.
    A moral person is moral in all things he does.

    Adolf Hitler was kind to dogs.
    Hitler. Good plan.


    /facepalm

  9. #39
    Veteran Member Devil505's Avatar
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    Quote Originally Posted by pragmatic View Post
    Hitler. Good plan.


    /facepalm
    You got the point.

  10. #40
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    Quote Originally Posted by Devil505 View Post
    Meaning essential items like water.
    Define "gouging". Do you include the entrepreneur who rents a truck and buys generators out of state to sell to people who really need them at a price that, while above the Home Depot price for the same generator (which is currently unavailable), only pays his expenses plus a 10% profit? Because he won't bother if he can't make 10% back on his investment, and as a result, there are fewer generators for sale in the Houston area... or water, or ice, or whatever... That's how free market economies work. On the other hand, if Home Depot jacked up the price of in stock goods by 100% that would be gouging. And since Home Depot doesn't want to alienate it's future customers they don't do that. They just run out of everything instead, but at the normal price. More in demand goods at whatever price will benefit the greatest number of people in the long run.
    By the way, water was freely available to anyone who made the effort to prepare for the storm, and will be freely distributed afterwards to anyone who needs it, so water is a bad example.
    Last edited by Otto Throttle; 2nd September 2017 at 08:52 PM.

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