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Re:Amazon sellers ‘hijack’ listings to sell face masks despi... by eru on Friday March 20, 2020 @12:55AM (#22635035)
Give poor people money, if you want to help them. Not queues and black markets.
Re:Amazon sellers ‘hijack’ listings to sell face masks despi... by wtallis on Friday March 20, 2020 @02:17AM (#22635407)
It's usually quicker and easier to determine how much each person reasonably needs to get them through an emergency situation, than to predict how high the price could be driven by hoarders and scalpers. And handouts to poor people to cover the scalper's surcharge will quickly result in the scalpers charging that much more—cf. college tuition, for a non-emergency example.
Re:Amazon sellers ‘hijack’ listings to sell face masks despi... by eru on Sunday March 22, 2020 @05:17AM (#22653726)
Good point. A discussion about relative elasticity of demand and supply for college tuition, rents and eg face masks would be enlightening. Most of higher education is about signalling.

Hoarders and scalpers don't drive up the prices, they just reveal a market clearing price. Attempts to restrict market clearing mechanisms make scalpers and hoarders spring up in the first place.

In a less restricted economy, producers of masks would capture the price increases. And that would serve as a good incentive for them to keep extra capacity around.

If your ration coupons for face masks were freely tradeable, the resulting system wouldn't look that much different from letting the price of face masks themselves freely fluctuate; and giving people the right amount of money. (It would still be a bit more awkward in comparison.)

Re:Amazon sellers ‘hijack’ listings to sell face masks despi... by toohotatopic on Friday March 20, 2020 @05:09PM (#22641688)
Then you just drive prices up and put the poorest non-poor people into the same class as the poor.
Re:Amazon sellers ‘hijack’ listings to sell face masks despi... by eru on Thursday March 26, 2020 @04:04AM (#22691459)
Higher prices encourage more supply to spring up, and economizing on use.

Your remark is right for things like land that's in fixed supply.