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0 pointsdaenz6y ago0 comments

I would argue that the supply/demand pricing isn't responding fast enough to the hoarders. If the price was fully elastic, as people began to hoard lysol wipes, prices would rise on the hoarders and make it much less profitable for them. But prices aren't rising correctly, much like an artificial price ceiling would do, making it possible and profitable for hoarders to create a shortage.

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jayd166y ago· 3 in thread

>I would argue that the supply/demand pricing isn't responding fast enough

Yes, that's a failing of the real free market we live. It already failed so I don't see why suggesting the status quo is useful. In the real world we're not all omniscient, rational actors. Protections like this are useful in the short term.

pitaj6y ago

> Yes, that's a failing of the real free market we live.

We don't live in a free market. Not even close.

I would argue that since these laws exist, commercial suppliers are unwilling to raise prices for fear of being penalized under this law. That prevents the market from working naturally, and allows these individual gougers to take advantage.

daenzOP6y ago

>Protections like this are useful in the short term.

Explain how this "protection" will stop the stated problem of people hoarding and reselling. Since when have fines or punishment stopped black markets from existing?

>It already failed so I don't see why suggesting the status quo is useful.

"The car brakes couldn't decelerate the car fast enough, they failed, so I don't see why suggesting better brakes is useful." Decentralized, free market pricing is enormously robust and flexible and has allowed the global economy to flourish. But since it has failed you, what would you like to replace it with?

jayd166y ago

If you don't think any laws are successful and we shouldn't use them then I don't know what to tell you. How about parking tickets or a million other behaviors we shape through fines?

Free markets work in the long term but as they say the market can stay irrational longer than you can stay solvent.

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