…even in crisis, if you let them. Laws against “price gouging” are economically insane.
8 thoughts on “Markets Work”
Markets might work better if Amazon would exclude Chinese “private companies.”
“crisis”…the average age of coronavirus deaths in the US is equal the mean age of death by natural causes.
Don’t wear a mask.
Don’t let them take your temperature.
Don’t fall for the hoax.
DO stand up for your rights!
Hey, Pug, pal, I’ve been reading your posts here. Pretty sure I agree with you on all particulars. But still, do yourself a favor and take it down a notch. You want to be wise Uncle Pug, infinitely reasonable, and not the guy nobody wants to talk to at parties (as soon as we have parties again), for fear of one-sided tirades.
John Adams accomplished far more for liberty than Sam Adams could ever hope to. Minds change through persuasion, not force.
“Ironically, perhaps, this seems to be happening in China, where over 3000 companies, including FoxConn and a Chinese automaker added mask making to their production lines at the beginning of the year. But it doesn’t seem to be happening very much in the United States. Why?”
One does wonder, however, about how good those masks are, or if the Chinese care about quality for themselves.
Gouging is wrong, but it is morally wrong to allow suckers to keep their money.
Where price “gouging” occurs, supplies — and therefore prices — return to normal far more quickly than where it is suppressed.
In my experience, “price gouging” usually means, “raising a price to a level I’d prefer not to pay.”
And I speak not as some smug rich guy, but as one of the plebes often hit by such “gouging.”
I’d amend the description to, “raising a price to a level I’d prefer not to pay for what I want the product for.”
In the case of “gouging” for bottled water, someone who just wants to stockpile it will object more strenuously to a higher price than somebody who desperately needs water and hasn’t been able to find any for days because nobody else selling water dared to raise the price.
Markets might work better if Amazon would exclude Chinese “private companies.”
“crisis”…the average age of coronavirus deaths in the US is equal the mean age of death by natural causes.
Don’t wear a mask.
Don’t let them take your temperature.
Don’t fall for the hoax.
DO stand up for your rights!
Hey, Pug, pal, I’ve been reading your posts here. Pretty sure I agree with you on all particulars. But still, do yourself a favor and take it down a notch. You want to be wise Uncle Pug, infinitely reasonable, and not the guy nobody wants to talk to at parties (as soon as we have parties again), for fear of one-sided tirades.
John Adams accomplished far more for liberty than Sam Adams could ever hope to. Minds change through persuasion, not force.
“Ironically, perhaps, this seems to be happening in China, where over 3000 companies, including FoxConn and a Chinese automaker added mask making to their production lines at the beginning of the year. But it doesn’t seem to be happening very much in the United States. Why?”
One does wonder, however, about how good those masks are, or if the Chinese care about quality for themselves.
Gouging is wrong, but it is morally wrong to allow suckers to keep their money.
Where price “gouging” occurs, supplies — and therefore prices — return to normal far more quickly than where it is suppressed.
In my experience, “price gouging” usually means, “raising a price to a level I’d prefer not to pay.”
And I speak not as some smug rich guy, but as one of the plebes often hit by such “gouging.”
I’d amend the description to, “raising a price to a level I’d prefer not to pay for what I want the product for.”
In the case of “gouging” for bottled water, someone who just wants to stockpile it will object more strenuously to a higher price than somebody who desperately needs water and hasn’t been able to find any for days because nobody else selling water dared to raise the price.