Corporations are gentle beasts than never rip people off.[/QUOTE]
Your emotion is no substitute for a rational argument. Do you even pretend to actually care about the substance of what I am saying, or are you interested in glib rhetorical points and distortions of my position?
What does "justified by their cost" have to do with anything? Becase the government writes a law, it means it is rational? I have already addressed sunk costs versus replacement costs and how sunk cost is irrelevant to price. Some FEMA website is supposed to make a difference? Because politicians have pass a law defining a term called price gouging is supposed to be proof that it actually exists? When have I ever stated or implied that companies are perfect and don't rip people off?
[QUOTE=jets5ever;2853994]Of course it would be temporary; The monopoly of that individual plumber would not endure in perpetuity. New plumbers would be trained and/or figure out how to be plumbers because of how profitable (in demand) that skill is. New plumbers would then compete with the individual plumber, supply would increase and prices would drop.
Temporary changes are as "real" as "permanent" ones. When a storm hits and there is no water, that is a real change in supply. [B] Gouging is simply a mythical bogeyman, dreamt up by politicians eager to cater to passionate ignorance of populism[/B]; believed by people who don't understand economics and need to believe that they live in a simple world with heroes and villians, which can explain each and every hardship or misfortune in those terms. Politicians are going to wave a wand and undo the harsh realities of supply and demand with the mere stroke of a pen! Amazing![/QUOTE]
Oh, I though they were seldom used statutes that exist in all 50 states that have been used almost exclusively on the worst dirt-bag's in retail. My mistake.
WTF? Price Gouging. Ripping people off. Same freaking thing, bro....
If this is all about semantics to you, why do you waste so much time typing?[/QUOTE]
If you get ripped off, it is largely your own fault. People can try to set whatever price they want for a good or service they are selling. If you blindly accept that price without investigating its reasonableness, that's your own fault. Most people who make a living selling things don't stay in business very long with such a stupid, short-sighted business plan.
I can buy an iPod and try to sell it on eBay for $1 million. If someone pays that price, they are a moron. I haven't "gouged" them at all. They paid the price. In most "gouging" situations discussed in this thread, there has been some event that has restricted supply and/or greatly increased demand. This shift is reflected in the new, higher price. That is not gouging.
[QUOTE=fukushimajin;2854371]Oh, I though they were seldom used statutes that exist in all 50 states that have been used almost exclusively on the worst dirt-bag's in retail. My mistake.[/QUOTE]
You know, you've convinced me. Take gas and oil. A while back, a gallon of gas was $4 and a barrel of crude was about $130 or so. No, a barrel of crude is half that amount and a gallon of gas is only $2. It would appear as though there is some relationship between those two things, but now I have seen the light and I realize that the falling price of crude has nothing whatsoever to do with the price we pay at the pump - the evil oil companies just stopped gouging us for some reason, coincidentally with the falling replacement costs of oil. The Senate and Congress were'n't just grandstanding at all when they dragged oil execs in a dozen times or so in the past few years for photo-ops to satisfy the emotioal rage of Joe Six Pack and Susie Chapstick, they really were onto something. A gallon of gas was only $4 back then because of gouging and now it has only fallen because. for some reason, oil companies don't feel like ripping us off anymore. Tight logic, that.