Re:Amazon sellers marking products as collectible to get aro...
by smt88 on Saturday May 30, 2020 @01:59AM
(#23358865)
> What gouging does in an emergency is allocate the needed supplies to where they are needed the most.
This kind if Econ 101 over-simplification is easy to disprove. There were people with stockpiles of N95 masks while medical workers couldn't get them, for example.
Unregulated markets don't care about need. Prices are a function of want (not just need), disposable income, and opportunity. That doesn't end up favoring the most needy.
This kind if Econ 101 over-simplification is easy to disprove. There were people with stockpiles of N95 masks while medical workers couldn't get them, for example.
Unregulated markets don't care about need. Prices are a function of want (not just need), disposable income, and opportunity. That doesn't end up favoring the most needy.