3 ms·
Your analogy makes no sense. Modern medicine didn't create, or even encourage the creation of, the coronavirus. Price gouging is very much an obvious consequenc
by dguaraglia 7y ago
Your analogy makes no sense. Modern medicine didn't create, or even encourage the creation of, the coronavirus. Price gouging is very much an obvious consequence of unbridled capitalism.
- LanceH 7y agoThat is fucking rich. You obviously never tried buying something in the USSR. Or when rationing was in effect during WW2. Or medicinal alcohol during prohibition. All government regulated supply resulting in a very expensive secondary market. Black markets thrive under systems other than capitalism where price gouging is the exception rather than the rule.
- perceptronas 7y agoYes you are right. Even with laws preventing price gouging people will sell/buy what they want. If sellers/buyers cannot do that in government regulated market - they will do that in the black markets
- dguaraglia 7y agoPlease explain how I am wrong?
- pnw_hazor 7y agoPrice gouging is evidence of a failed market and not a consequence of capitalism. In the event of market failure, government intervention is often warranted until the market can correct itself. However, laws against price gouging are not the whole solution. Laws against price gouging do not prevent hoarding or panic buying. Thus, holding the price of the goods artificially low in the face of increased demand leads to shortages. (Unsurprisingly) If you have laws against price gouging you need to have laws that limit the number of units purchased to reduce hoarding. Otherwise, you inevitably will have short term shortages.