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The scalpers don't suck up profit, since if there is a functioning market, you can't really scalp. Scalping exists when there is a discrepancy between a marked
by medvezhenok 5y ago
The scalpers don't suck up profit, since if there is a functioning market, you can't really scalp.
Scalping exists when there is a discrepancy between a marked price and the market price of an item. If scalpers were not a thing, you would have shortages. With scalpers, you still have shortages, but you can acquire the good by paying a higher, market clearing price.
That higher price either makes it so that rich people can get the thing (most don't like this), or that people who really need it can get it (i.e. lifesaving medication etc). So your view of scalpers might be influenced by the distribution of (1) and (2) going on.
- nicoburns 5y agoMy observation is that you mostly get (1). And this is also why wealth inequality (both on a personal and a corporate level) is so bad.
- Swenrekcah 5y agoSure, I get all that but scalping is still in essences a leeching practice. And yes they can suck up profits, that’s their whole thing. Are you saying that profits can’t exist in a functioning market?