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There is no objective formula for determining what is reasonable. That's an entirely subjective thing. Everyone tries to buy low and sell high for anything they
by chrisco255 4y ago
There is no objective formula for determining what is reasonable. That's an entirely subjective thing. Everyone tries to buy low and sell high for anything they produce. A manufacturer will try to get the cheapest price for all of the raw materials that goes into their goods and they will try to charge the highest price they can. They are only ever kept in check by competition and alternative choices in the marketplace. And the market functions to regulate profits by producing more supply whenever there's an imbalance.
- antonvs 4y agoThe market is not the only possible judge here. Anyway, I didn’t say anything about objectivity. Of course “reasonable” is subjective. But if we have some basic values, we can make objective judgements about what furthers those values and what doesn’t. For example, we could decide that it’s not conducive to an equitable society to allow single individuals to make and keep billions of dollars on some small number of trades. And in fact, that was the case for decades before Reagan cut the highest marginal tax rate from 70% to 28%, which directly led to staggering inequality today. Modifying what the original commenter said, there’s something fundamentally wrong with profiting massively on speculation with food.