248 Price Gouging

[Martin Hash]

248 Price Gouging pic.JPG

Intro Video

And here's the podcast:

248-1 S.E.A. Aquarium pic.JPG

Travel Tidbit: S.E.A. Aquarium Intro Video and here's the story: Chinese New Year at the S.E.A. Aquarium Travel Tidbit

[DBTrek]

I like it.

Another aspect that often goes unaddressed is the timeframe within which “price gouging” is viable. Running with your insulin example:

• An Earthquake devastates a California town. “Price Gougers” travel by boat and plane with crates of insulin, arriving three days before FEMA can get set up and start distributing dividends from government-speed recovery efforts.
  The price gougers charge 10x normal prices for their insulin.

The moral outrage comes from the sense that these gougers are exploiting a desperate situation to maximize profits. However, prohibiting the gougers from operating results in NOBODY getting insulin for three days. Even when that FEMA insulin arrives, it’s going to be a limited supply - meaning not everyone who needs it will get some anyway.

I think people would be less incensed over “price gouging” if they got away from their “evil capitalists” mindset and assessed the situation more pragmatically. Instead of seeing these folks as opportunistic locusts, they should view them as financial risk takers who have invested money, time, and effort into bringing additional critical resources into an area with critical need.

To a man in the verge of dying of thirst, a $10 bottle of water is vastly superior to “free” government water that arrives four hours after he dies.
/shrug

[Fife]

My God, Martin's OP and DB's entry are full of Win.






IN B4 "I hope Sheriff Israel shoots your thieving ass right between the eyes."

[DBTrek]

Well congrats Martin - apparently there is no disagreement on this one. Enshrine it in your political platform!

Should make you a hit with the other Dems.
They’ll love it.

[K@th]

When people start clamoring that nobody ever changes their mind from these forums, I have this as one example of how engaging in conversation helped me "see the light," on this one.

[Martin Hash]

I wrote that last year at this time. (Look at the number.)

p.s. It first aired last July.

[SuburbanFarmer]

I agree with the principle, of course. But I don't know that you'll ever get desperate people to trust that the disaster pricing model of the local 7-11 is balanced with demand.

Nothing to stop a guy from overcharging ridiculously, and hoarding his own supply, then dumping right before the crisis ends.