Price-gouging after natural disasters (9/11, dollars, vs, rates)

[pch1013]

Originally Posted by jt800

If I go to a baseball game, a bottle of water is $4.00 that I can buy an entire case for $2.45.

OMG!!!!!

Right, because a baseball game lasting 3 hours is just like a natural disaster whose after-effects linger for days.

[Dale Cooper]

Originally Posted by pch1013

So you think those anti-gouging laws should be repealed?

Should gas stations be allowed to charge $10/gallon in case another refinery blows up?

It's up to the individual states.

Like I said, stupid should hurt.

I filled up this morning in anticipation of gas price hikes.

It's called 'thinking'.

[texdav]

Originally Posted by pch1013

So in other words it's perfectly OK for businesses to make huge extra profits off of the suffering of others.

Would the MTA be justified in raising bus fares to $20 to control demand while the subways are out?

Gouging is one thing and depending on the stae laws can be prosecuted.Just as individual frud will be for years to come after claims made after the storm.Price rises form demand on such things as buildig amterials is noraml and will go up because of deqamnd;that is the maqrkets at work just like after other disaters.Scams will alos be on the rise.Its not just businesses ;its induvidual humans basically.Wait untikl yopu see contractors spring up over nite and scammers come into the area.Be careful having lived thru hurricane recocery of Rita;IKe and Hunberto.MTA will just pass on rising cost thru loses thru to 6tacpayers unlike compoanies. Wait until ypou see the cost that governaqmtn willneed to makeup besides what is covere3d by insurance. Comp0naiesa cannot just ask for fedral aird and evry cost is not insured just as you will see with local anhd state loses.

[pch1013]

This just in: the MTA is offering FREE bus service for the duration.

[Robert_J]

Is Price Gouging Immoral? Should It Be Illegal? - Reason.com

I wish my "cheap" flashlights cost $30. Have you checked out what a Surefire flashlight or a Maglite costs?

[Frank DeForrest]

Originally Posted by pch1013

This just in: the MTA is offering FREE bus service for the duration.

Not free, mta is taxpayer funded ( and billions in debt)

All hail the guv!

[Dale Cooper]

Originally Posted by Frank DeForrest

Not free, mta is taxpayer funded ( and billions in debt)

All hail the guv!

lol

I was wondering when the punch line would come.

[CrownVic95]

Originally Posted by HappyTexan

If you weren't smart enough to buy a flashlight before the storm for $2 then you deserve the $30 tab AFTER the storm.

Originally Posted by Cavaturaccioli

There is no such thing as price gouging. This is simply supply and demand.

Originally Posted by Frank DeForrest

Raising prices on products in the face of increased demand helps to conserve them.

If prices of flashlights, milk, gas etc. are kept artificially low, supplies will rapidly diminish and those in need may have to go without.

Originally Posted by middle-aged mom

People have a choice to buy or do without.

Strong demand causes prices to rise to whatever the market will bear.

Excess supply causes prices to decline to whatever the market will bear.

All excellent examples of the thinking that has driven today's culture, particularly today's business culture, to moral bankruptcy.

And some wonder why we're in the mess we're in.......

[Frank DeForrest]

Originally Posted by CrownVic95

All excellent examples of the thinking that has driven today's culture, particularly today's business culture, to moral bankruptcy.

And some wonder why we're in the mess we're in.......

Economic ignorance as evidenced by your critique of the above posts

[Bagger]

If you google 'price gouging laws by state' you'll see that quite a few states have already passed legislation making it illegal. How effective are these laws? I have no idea.