Price Gouging -- Stossel In The Classroom

After natural disasters, some businesses raise prices. Is that evil? A lesson on supply and demand.

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Education

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• John Stossel
• Stossel In The Classroom
• Price Gouging
• Big Government

[ElDiabloWhoppo]

Simple demand and supply arguements is specious reasoning for this sort of debate. BTW I am anti-communist so forget calling me a commie you muppets.

You RATION an item, you dont sell it at the highest bid. Only rich people are allowed to have water and power?

In these sort of disasters, if you ration by price (as opposed to quanity), is it also acceptable for those with guns (instead of money) to put themselves to the front of the line?

The American ethos is might IS right afterall

[StosselClassroom]

@ElDiabloWhoppo You are confusing the matter. A person with $100 is different from a man with a $100 gun, but only if the latter person decides to use that gun to harm others. The food should be earned, going to the most deserving (whether with money or charity by those with money) when there is not enough to go around. When there is 100 units of food and the people require 150 units of food, survival of the fittest will always take place. Solve the lack of supply, don't further mess up demand.

[ForTehNguyen]

govt should never get in the way if a willful transaction between two people

[MikeJGallagherJr]

Idealy the entire country would buy generators and give them to everybody in need, but this isnt a Leninist paradise or the Kingdom of God on earth. I think after you look into how much money he actually made off of

A. buying the Generator after the standard Hardware Stores Markup,

B. The Costs of transporting it (Uhaul truck, Gas,)

C. The value of his time in transporting it

D. The Markup that he should Rightfully apply,

It would be pretty close to a fair deal for the Consumer.

[Squibfire]

Rationing, its very simple and does not exclude people with a lack of means

[gotitans999]

@KripDrip lol, you aren't ripped off or you wouldn't buy it. You only make a transaction if you think you will be better off. Econ 101.

[mba2ceo]

Noble prize - kick back to modern UNCLE TOMS ?

[mba2ceo]

Laws are created by the Rich to maintain their exploitation.

[TheHockeyTank]

Thats outrageus that that person got arrested!! If a customer agrees to the price, theres no problem!!

[gshooting]

@ninjashade411 hardware stores don't make their products either.

[25Deception]

The man with the generators had every right to sell them at whatever price he wanted. To take that man's rights of doing so is to take away his freedom. One has to remember this country is capitalist. Gouging isn't illegal. monopolies are.

[MrConservative608]

@KripDrip Lets say a local Target has bought 50,000 lamp shades. Five months later if they have 49,992 lamp shades left in inventory, do you believe Target would reduce the price of those lamp shades?

[KripDrip]

what do u mean the consumer sets the price? HOW? If all the stores keep ripping me off, what im I supposed to do about it/