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Does Price Gouging Exist?
I've studied economics and price gouging DOES exist.
I've studied economics and price gouging DOESN'T exist
I haven't studied economics and price gouging DOES exist.
I haven't studied economics and price gouging DOESN'T exist.
Suggested clarification choices:
"I've studied human behaviour and price gougers do exist"
"I've never studied human behaviour and price gougers do not exist"
"I'm a True Believer that free market capitalism is the be all and end all of human behaviour"
"I believe in free market economics, but I also realize there are people who will exploit their fellow humans, especially in disasters and emergencies"
You get the idea. The situation is more complex than the poll questions presume.
Last edited by chuckmann; 04-25-2014 at 04:17 AM..
Gues your not very well versed on the BNSF railways freedom to basically charge whatever they wish to haul coal.............they are the only one available to compete. A monopoly in every way except name.
You can beat your premise to death about the non-existence of price gouging.........but it is alive and well.
If BNSF is engaging in predatory practices due to monopoly power, it would be incumbent upon those harmed to seek redress in the courts. Or perhaps they could simply ship their coal by truck.
But to better address your contention that BNSF is engaged in "price gouging" let's consider the following. BNSF is currently charging X to haul coal (I have no idea what their coal hauling rate is, but a simple variable will suffice to illustrate the point). If, as you contend, BNSF has the "freedom to basically charge whatever they wish" then why are they charging X instead of 2X or 3X or 100X?
Does Price Gouging Exist?
I've studied economics and price gouging DOES exist.
I've studied economics and price gouging DOESN'T exist
I haven't studied economics and price gouging DOES exist.
I haven't studied economics and price gouging DOESN'T exist.
Suggested clarification choices:
"I've studied human behaviour and price gougers do exist"
"I've never studied human behaviour and price gougers do not exist"
"I'm a True Believer that free market capitalism is the be all and end all of human behaviour"
"I believe in free market economics, but I also realize there are people who will exploit their fellow humans, especially in disasters and emergencies"
You get the idea. The situation is more complex than the poll questions presume.
Since you believe that price gouging exists, the following should be easy for you.
Tell me, specifically, what I need to do to be able to be a "price gouger" and exploit my customers today at my gas station and mini mart. I would like to be able to sell my gas at the "price gouger" price of $6-7/gallon.
How do I do it?
And after a hurricane, when gas is selling for $6 or so, I want to be able to exploit my customers and sell them my gas for $15/gallon.
If BNSF is engaging in predatory practices due to monopoly power, it would be incumbent upon those harmed to seek redress in the courts. Or perhaps they could simply ship their coal by truck.
But to better address your contention that BNSF is engaged in "price gouging" let's consider the following. BNSF is currently charging X to haul coal (I have no idea what their coal hauling rate is, but a simple variable will suffice to illustrate the point). If, as you contend, BNSF has the "freedom to basically charge whatever they wish" then why are they charging X instead of 2X or 3X or 100X?
Since you believe that price gouging exists, the following should be easy for you.
Tell me, specifically, what I need to do to be able to be a "price gouger" and exploit my customers today at my gas station and mini mart. I would like to be able to sell my gas at the "price gouger" price of $6-7/gallon.
How do I do it?
And after a hurricane, when gas is selling for $6 or so, I want to be able to exploit my customers and sell them my gas for $15/gallon.
Again, how do I do it?
Your fallacy is that you are saying that because laws prevent it, it cannot happen. Laws like that would have to be enacted due past price gouging correct? Theoretic laws could never pass, you need to have an emotional appeal. When a business man, like you raises your prices of gas too high for lower class and middle class after a hurricane so they cannot get to their place of work and this has happened. I rather see sandy situations with odd/even days and limits on gas during shortages to keep demand somewhat steady. Two North Jersey gas stations fined for price gouging during Superstorm Sandy - NJ State News - NorthJersey.com and Gas station fines won't be enough to stop future price gouging - Patrick Crowley - Newsday prove that price gouging has happened. Now it isn't the double the price threshold I hold but of the three, one jumped up $0.70 in a week despite the odd/even rationing.
While you quoted it, you failed to address the key point of my post. Care to try again?
Quote:
But to better address your contention that BNSF is engaged in "price gouging" let's consider the following. BNSF is currently charging X to haul coal (I have no idea what their coal hauling rate is, but a simple variable will suffice to illustrate the point). If, as you contend, BNSF has the "freedom to basically charge whatever they wish" then why are they charging X instead of 2X or 3X or 100X?
Your fallacy is that you are saying that because laws prevent it, it cannot happen. Laws like that would have to be enacted due past price gouging correct? Theoretic laws could never pass, you need to have an emotional appeal. When a business man, like you raises your prices of gas too high for lower class and middle class after a hurricane so they cannot get to their place of work and this has happened. I rather see sandy situations with odd/even days and limits on gas during shortages to keep demand somewhat steady. Two North Jersey gas stations fined for price gouging during Superstorm Sandy - NJ State News - NorthJersey.com and Gas station fines won't be enough to stop future price gouging - Patrick Crowley - Newsday prove that price gouging has happened. Now it isn't the double the price threshold I hold but of the three, one jumped up $0.70 in a week despite the odd/even rationing.
I believe that I said it in another post, but failed to say it here. What I was trying to convey is below:
Quote:
Absent any laws against "price gouging" tell me, specifically, what I need to do to be able to be a "price gouger" and exploit my customers today at my gas station and mini mart. I would like to be able to sell my gas at the "price gouger" price of $6-7/gallon.
How do I do it?
And after a hurricane, when gas is selling for $6 or so, I want to be able to exploit my customers and sell them my gas for $15/gallon.
Again, how do I do it?
My point is not, "because laws prevent it, it cannot happen" but rather, in the absence of any law against it, it cannot happen. There is no mechanism that will allow a business owner to charge, and get, more than the market determined price for a product. If you think there is a way for that to happen, please explain.
TaxPhD, you are willfully obtuse. The fact that you can't price gouge *infinitely*, because demand is not *perfectly* inelastic, and you don't have a *perfect* monopoly, does not mean NO gouging exists.
You commit a slippery slope or line-drawing fallacy in every post and your objections have been answered by several posters several times. I myself answered the specific query you laid out very directly a few pages ago and you did not respond to its substance.
TaxPhD, you are willfully obtuse. The fact that you can't price gouge *infinitely*, because demand is not *perfectly* inelastic, and you don't have a *perfect* monopoly, does not mean NO gouging exists.
You commit a slippery slope or line-drawing fallacy in every post and your objections have been answered by several posters several times. I myself answered the specific query you laid out very directly a few pages ago and you did not respond to its substance.
Perhaps I missed it. What's the post #?
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