"Price Gouging" is a communist term

[Zundfolge]

Whenever there is a "crisis" (be it natural or political) prices of some things go up and go up quickly. This is in essence Adam Smith's Invisible Hand at work. It is both natural and good.

Carping about "Price Gouging" is counter productive and feeds into the same communist thinking that is destroying our culture and economy.


Here's a good little video explaining it (using natural disaster as an example).



And Walter E Williams bit of wisedom on it.



And Thomas Sowell expounds on the problems of "Price Controls" (which is usually what those that demand that the State "do something" about "price gouging" end up with)



And here's a good article by Dr Sowell on Price Gouging.

[HoneyBadger]

Thank you Z. You are awesome.

[Sharpienads]

But, but, somebody else has something that I want but I can't afford it because they priced it too high!!! That's not fair!!! Bitch bitch bitch whine whine whine.

Thanks for posting. The complaining about being free to conduct commerce in any way one sees fit is getting old fast.

[Bailey Guns]

Agreed, Z. Unfortunately, a lot of people on this forum don't, and won't, comprehend this as they're only concerned about what's good for them.

ETA: BTW...Williams and Sowell are two of my modern-day heroes!

[Sharpienads]

Agreed, Z. Unfortunately, a lot of people on this forum don't, and won't, comprehend this as they're only concerned about what's good for them.

Hey, this is a Colorado Springs only thread.

[Bailey Guns]

Hey, this is a Colorado Springs only thread.

OH...that explains all the right-wing extremism.

[Tinelement]

Hey, this is a Colorado Springs only thread.

So much for asking about "FIRM" price gouging then!!!

[rfizzle]

Capitalism is also a two way street so if a shop chooses to charge $60 for a $15 item that the manufacturer has stated is still in production and has not increased the price then people can choose to avoid said shop...

[sellersm]

History tells us that the word 'fair' has been used many times to bring about certain ideologies and regimes. When your whole outlook on life is based on what's considered to be "fair", then you're in trouble as you're ready to be manipulated.

As I tell my kids all the time, life's not fair, deal with it.

[Bailey Guns]

Capitalism is also a two way street so if a shop chooses to charge $60 for a $15 item that the manufacturer has stated is still in production and has not increased the price then people can choose to avoid said shop...

That's correct.