Posted by: Scott Lee | November 12, 2009

Price Gouging Con

People are easy duped (Obama, global warming, minimum Wage, evolution, etc)!  It’s has become embarrassingly easy!  If you can get enough people to believe it….it must be true!  Tell a lie long enough, loud enough….the sheeple will believe it!  Combine that with a complete inept education system and a disgusting level of economic understanding and there you have our country today!

But like I have said before, when emotions are involved, logic is left behind! To say that price gouging should be illegal sparks a very emotional reaction that everyone would agree…but try to explain the facts…these people say, “How could you be for price gouging!”  Of course, the answer is simple…there is no such thing as price gouging! 

A. Barton Hinkle, a Times-Dispatch Columnist explained it well here:

Friends and neighbors, this is exactly how the market is supposed to work. In an emergency, so-called price-gouging is a good thing.

Prices are signals. Sharply higher prices send a message to the consumer that says: “Supplies are tight. Buy only as much as you need, so there will be some left for others to buy.” Price-gouging rations materials so that there is enough to go around for everybody.

By contrast, when retailers don’t raise prices, some customers stock up — call it hoarding, if you like — and those who can’t get to the store before the supplies run out are left high and dry. The supposed greed and selfishness of store owners who jack up prices act as a brake on the greed and selfishness of customers looking out for No. 1.

Here is the question I always ask when this topic comes up, “Would you rather have gas, water, batteries AVAILABLE at higher prices, or none at the regular price!”

Come on people!

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