Gouging Network
Welcome to Gouging.net! Gouging.net is a highly categorized in-depth informational resource for all terms related to Price Gouging and Natural Disasters. About us.
|
Price gouging is a pejorative term referring to a situation in which a seller prices goods or commodities much higher than is considered reasonable or fair. In precise, legal usage, it is the name of a crime that applies in some of the United States during civil emergencies. In less precise usage, it can refer either to prices obtained by practices inconsistent with a competitive free market, or to windfall profits. In the Soviet Union, it was simply included under the single definition of speculation. The term is similar to profiteering but can be distinguished by being short-term and localized, and by a restriction to essentials such as food, clothing, shelter, medicine and equipment needed to preserve life, limb and property. In jurisdictions where there is no such crime, the term may still be used to pressure firms to refrain from such behavior. The term is not in widespread use in mainstream economic theory, but is sometimes used to refer to practices of a coercive monopoly which raises prices above the market rate that would otherwise prevail in a competitive environment. Alternatively, it may refer to suppliers' benefiting to excess from a short-term change in the demand curve. As a criminal offense, Florida's law is typical. Price gouging may be charged when a supplier of essential goods or services sharply raises the prices asked in anticipation of or during a civil emergency, or when it cancels or dishonors contracts in order to take advantage of an increase in prices related to such an emergency. The model case is a retailer who increases the price of existing stocks of milk and bread when a hurricane is imminent. It is a defense to show that the price increase mostly reflects increased costs, such as running an emergency generator, or hazard pay for workers. From Wikipedia under the
GNU Free Documentation License Verb
price gouging (plural price gougings)
From Wiktionary under the
GNU Free Documentation License ) images-en.busytrade.com 391px x 400px px | 13.43 kB [source page] ) image.made-in-china.com 806px x 669px px | 111.32 kB [source page] From Google Image Search: "gouging" Will leftists ever understand that "price gouging" is simply price rationing of scarce goods? Q. All it takes is for them to take a course in basic economics, where they will understand that price rations SCARCE, yes SCARCE goods to the people who value them most. Why do they think that when they limit the price of something the supply will stay the same? LOL @ clueless dolts like Joe... yep, go ahead and make it illegal, sport. You will just get what you wish for, namely shortages. Asked by Did You Get That Memo? - Thu Jun 26 12:40:10 2008 - Other - Politics & Government - 7 Answers - Comments A. A few minutes of economic reflection would convince any rational person that prices are simply a message communicating to both consumers and producers which products are most valued, and where those products should be distributed. As you said, price "gouging" is nothing more than a natural price increase when some good becomes mush more scarce. When politicians start tinkering with prices, their use of FORCE will do nothing but create either surpluses or shortages. A good example is the hotel 90 miles from a disaster site (flood, etc). The hotel has a limited number of rooms available (scarcity). If the hotel prices were allowed to reflect the unexpected influx of disaster victims, the room prices would [double]. However, since &q [cont.] Answered by Time to Shrug, Atlas - Thu Jun 26 13:30:51 2008 Should "price gouging" rules exist?
Q. Example: A hurricane hits Biloxi. Bob has invested in a generator and has stored gasoline to run the generator, which he uses to power a freezer to make ice. He wants to sell the ice at a premium to maximize his profits...why should the government prevent Bob from charging $10 or $100 a bag for ice, if that is what people are willing to pay? There is no right to ice. Other people had had the same opportunity as Bob to invest their resources in the same way. Before you answer: Same situation, but Bob also owns a lumber company and the demand for construction materials (i.e. lumber building products) is great for weeks and months after the storm. Should he charge only what he was charing before the storm? A "reasonable" increase to… [cont.] Asked by kingstubborn - Thu Sep 7 10:52:23 2006 - Politics - 12 Answers - Comments A. The only time when price gouging should become a legal issue is when the situation is artificially created just to raise the price. Otherwise the law of supply and demand should rule. Answered by xtowgrunt - Thu Sep 7 10:55:22 2006 From Yahoo Answer Search: "gouging" |
consumerenergyreport.com Samuel R. Avro, consumerenergyreport.com 2012-04-19 14:33:48 As U.S. President Barack Obama pointed out in a recent speech urging Congress to repeal tax breaks for the oil industry, the three biggest U.S. oil companies took home more than $80 billion in profits. Exxon pocketed nearly ... knowledgeproblem.com Michael Giberson, knowledgeproblem.com 2012-04-19 12:02:58 MORE: Zwolinski has written serious philosophical works on price gouging ,which makes the clarity of his position in the video all the more surprising. :-) See links to some of Zwolinski's work on the topic in previous KP ... From Google Blog Search: "gouging" See also:
|