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As soon as you said, "non-governmental entity," I knew where you were probably coming from.
Libertarian, right? So, to you, price gouging does not exist, except when the government does it. Am I right?
While I do have some Libertarian leanings, that isn't the issue.
People have interactions with government entities that frequently have fees/charges associated with them, the government entity is the only entity that can provide what is being charged for, and there is no opportunity for competition. If you want to get a driver's license, or register your car, you MUST do these through the government. In this context, price gouging is possible.
And to specifically answer your question, yes, only the government can price gouge. Non-governmental entities providing goods and services in the market don't have the ability to gouge, even if they want to.
Yeah! I'd say paying five bucks for a bottle of water in a hot and crowded nightclub is a form of price gouging because the situation is one of thirsty people who will not be getting water elsewhere unless they went out of the club to buy water and then went back in. And who is going to do that?
Also charging eleven bucks for a pre-made salad with 3 oz of processed chicken in a container at an airport is price gouging.
Yeah! I'd say paying five bucks for a bottle of water in a hot and crowded nightclub is a form of price gouging because the situation is one of thirsty people who will not be getting water elsewhere unless they went out of the club to buy water and then went back in. And who is going to do that?
Also charging eleven bucks for a pre-made salad with 3 oz of processed chicken in a container at an airport is price gouging.
I guess we all can also point to food prices at theme parks as well going up from 6.50 with a drink to around 15.00 for the entire meal in this idea of locational price gouging.
I don't see that as price gouging. Most people know prices at theme parks and airports are higher and can anticpate it because of convenience. Compare that to disasters and natural monopolies (like energy companies and telecommunication companies) who can raise prices out of pace that you cannot exactly budget for.
"price gouging" simply takes "morals" into account.
why should i, as a business owner, fail to maximize my profits?
if a hurricane or whatever hits, i have a scarce supply of product, you better believe i'm gonna jack the prices up into the stratosphere.
that's called "common sense".
It's not " common sense". It's called kicking your fellow man when they're down.
It's disgusting for businesses to do that to good people after a public emergency hits like a hurricane or earthquake.
Suppose you're on the receiving end of the "maximization of profits" after a public emergency. Suppose you had a baby that needed milk but you didn't have the 10 dollars needed for the pint.
I guarantee after the dust settles from the crisis, your name and business would be all over the news in a bad way.
While I do have some Libertarian leanings, that isn't the issue.
People have interactions with government entities that frequently have fees/charges associated with them, the government entity is the only entity that can provide what is being charged for, and there is no opportunity for competition. If you want to get a driver's license, or register your car, you MUST do these through the government. In this context, price gouging is possible.
And to specifically answer your question, yes, only the government can price gouge. Non-governmental entities providing goods and services in the market don't have the ability to gouge, even if they want to.
Hahaha, so market power doesn't exist? Monopolies don't exist? Collusion and cartels and oligopolies never exist? Situational monopolies (as has been covered MANY times in this thread despite your pretending it has not) don't exist? Indeed, price gouging is taking advantage of situational monopolies (or temporary monopolies); that's the point.
Hahaha, so market power doesn't exist? Monopolies don't exist? Collusion and cartels and oligopolies never exist? Situational monopolies (as has been covered MANY times in this thread despite your pretending it has not) don't exist? Indeed, price gouging is taking advantage of situational monopolies (or temporary monopolies); that's the point.
I want to be a price gouger. In my gas station/mini mart, I want to sell my goods for more than the market price, and in so doing, earn excess returns. Tell me how to do it. Be specific.
While I do have some Libertarian leanings, that isn't the issue.
People have interactions with government entities that frequently have fees/charges associated with them, the government entity is the only entity that can provide what is being charged for, and there is no opportunity for competition. If you want to get a driver's license, or register your car, you MUST do these through the government. In this context, price gouging is possible.
And to specifically answer your question, yes, only the government can price gouge. Non-governmental entities providing goods and services in the market don't have the ability to gouge, even if they want to.
Last I looked I had one choice for my electricity delivery, not a government owned company.
Stuck with just TWC for internet. High priced for mediocre at best service.
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