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> It is wrong to substantially rise the price of the health-related product if you suddenly see there is a big need for it. It is non-ethical and totally wrong!

by barumi 6y ago

> It is wrong to substantially rise the price of the health-related product if you suddenly see there is a big need for it. It is non-ethical and totally wrong! Wrong why? I mean, in a time of scarcity how do you ensure that only those who need it the most are able to self-moderate their purchases? I should point out the fact that artificially restricted selling prices lead to shortages really quick, as people tend to binge buy in those circumstances thus depleting supplies. It happens with bottled water in hurricanes, it happened with toilet paper in the first covid19 lockdowns, and it sure as hell happened with face masks as well.

yodelshady 6y ago
I will bet you any amount of money that the people who need to physically work, and therefore trivially the ones most in need of good masks, aren't the ones buying them at free-market rates. Econ 101 doesn't talk much about the impact of wealth inequality on free-market mechanisms, for some reason.
- barumi 6y ago
  > I will bet you any amount of money that the people who need to physically work, and therefore trivially the ones most in need of good masks, aren't the ones buying them at free-market rates. As the covid19 pandemic showed, they surely are not the ones buying them all all at artificially restricted prices either, because the jackass with the shopping carts and the desperate need to hoard all types of basics decided to clean up the inventory. > Econ 101 doesn't talk much about the impact of wealth inequality on free-market mechanisms, for some reason. As much as it might pain you, basic economy principles are a kin to natural laws, in the sense that even if you try your hardest to pretend they don't exist... They are always there. Additionally, one of the main errors you're making is conflating how economies work with your personal opinion on how you preferred things to happen without paying any attention to unintended consequences, let alone basic relationships between cause and effect.
  - yodelshady 6y ago
    > basic economy principles are a kin to natural laws killing, stealing and raping are "a kin to natural laws". They exist, but don't pretend that they're helping. The free market would have helped if it got masks to those who need it. It didn't. It therefore, in this context, failed to help, natural laws or no. All else is philosophy.
La1n 6y ago
>Wrong why? I mean, in a time of scarcity how do you ensure that only those who need it the most are able to self-moderate their purchases? On the other hand, how do you ensure that the poor have equal access to items that could save their life?

by barumi 6y ago

yodelshady 6y ago

I will bet you any amount of money that the people who need to physically work, and therefore trivially the ones most in need of good masks, aren't the ones buying them at free-market rates. Econ 101 doesn't talk much about the impact of wealth inequality on free-market mechanisms, for some reason.

barumi 6y ago
> I will bet you any amount of money that the people who need to physically work, and therefore trivially the ones most in need of good masks, aren't the ones buying them at free-market rates. As the covid19 pandemic showed, they surely are not the ones buying them all all at artificially restricted prices either, because the jackass with the shopping carts and the desperate need to hoard all types of basics decided to clean up the inventory. > Econ 101 doesn't talk much about the impact of wealth inequality on free-market mechanisms, for some reason. As much as it might pain you, basic economy principles are a kin to natural laws, in the sense that even if you try your hardest to pretend they don't exist... They are always there. Additionally, one of the main errors you're making is conflating how economies work with your personal opinion on how you preferred things to happen without paying any attention to unintended consequences, let alone basic relationships between cause and effect.
- yodelshady 6y ago
  > basic economy principles are a kin to natural laws killing, stealing and raping are "a kin to natural laws". They exist, but don't pretend that they're helping. The free market would have helped if it got masks to those who need it. It didn't. It therefore, in this context, failed to help, natural laws or no. All else is philosophy.

La1n 6y ago

>Wrong why? I mean, in a time of scarcity how do you ensure that only those who need it the most are able to self-moderate their purchases? On the other hand, how do you ensure that the poor have equal access to items that could save their life?