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yeah, much better to have £100/dozen eggs. That way, at least they'll be on the shelves so rich people can still have them.
by ForHackernews 7y ago
yeah, much better to have £100/dozen eggs. That way, at least they'll be on the shelves so rich people can still have them.
- Consultant32452 7y agoI saw one ad for hand sanitizer where 1 bottle was regular price, 2 bottles was 100x price. I support that kind of "price gouging."
- BurningFrog 7y agoMarket prices keep items on the shelf, and also incentivizes increased production, and redirecting supplies to where demand is highest. Price fixing incentivizes hoarding and empty shelves.
- _jal 7y ago> redirecting supplies to where demand is highest Which is what the gp said. > they'll be on the shelves so rich people can still have them Complaining about word choice is a tradition around here, I know.
- gridlockd 7y ago> Which is what the gp said. They didn't say that at all, they said something completely different, thereby proving that they don't understand the point. Not raising prices at all evidently leads to empty shelves. Nobody can buy any eggs, except for the first lucky person that can get all the eggs at a bargain and then waste them without significant financial loss. In the case of toilet paper, there isn't even a loss - you were going to buy it anyway. As prices rise, demand goes down. The hoarders buy less, or at least pay handsomely for the privilege, which is more fair. Nobody will raise prices until there is no demand whatsoever ($100 eggs), just for the sake of stocked shelves. This system works strictly better, it's just that people don't understand it. That's why supermarkets don't raise prices. They can blame empty shelves on "a few idiots" (who aren't really idiots) and avoid complaints for price gouging, which could cause severe regulatory fallout.
- gridlockd 7y agoNobody is going to buy eggs for a hundred pounds, unless they're literally at the brink of starvation, in which case they're worth that much. However, let's just say eggs are five times as expensive: You're going to think twice about buying a whole shelf of them "just in case". Rich people are going to get their eggs either way.
- ForHackernews 7y ago> Rich people are going to get their eggs either way. This bootlicking fatalism is the real problem, imho.
- gridlockd 7y agoClearly, the biggest sorrow of the socialist is not that the people are starving, but that the rich aren't starving alongside them.
- blaser-waffle 7y agoThis, but unironically.
- deleted 7y ago[deleted]