Destroying The Price Gouging Myth (Read 628 times)

Flapp_Jackson

Destroying The Price Gouging Myth
« on: August 26, 2024, 12:33:32 AM »
I only took 3 classes on economics in college, so I'm far from educated on the topic,
but this explanation is so well presented, I think even AOC and Kamala Harris would get it.

The reasonable man adapts himself to the world;
the unreasonable one persists in trying to adapt the world to himself.
Therefore, all progress depends on the unreasonable man.
-- George Bernard Shaw

QUIETShooter

Re: Destroying The Price Gouging Myth
« Reply #1 on: August 26, 2024, 07:16:57 AM »
Sometimes you gotta know when to save your bullets.

ren

Re: Destroying The Price Gouging Myth
« Reply #2 on: August 26, 2024, 07:49:30 AM »
The DNC have always targeted the voters that did not take econ and took glass blowing and underwater basket weaving instead. Feelings over facts crowd. Just like the rabid, firearms safety rule breaker. I cross da yellow line cuz I smahtah than all the ROs.
Deeds Not Words

Flapp_Jackson

Re: Destroying The Price Gouging Myth
« Reply #3 on: August 26, 2024, 10:09:20 AM »
The example used in the Price Gouging video is plywood, as it's needed to repair or rebuild after a hurricane or other natural disaster.

In case you've ever been curious how plywood is made, here's a really good video.

As you watch this, keep in mind the amount of labor, machinery, production materials (such as glue), transportation and warehouse space that's needed to create a 4' x 8' sheet of plywood.

Then ask yourself, how much profit should the plywood companies be allowed to earn?

Also keep in mind that a good amount of plywood used in the US comes from overseas markets, so the cost of cargo ship transportation increases the expense in getting it to US stores.  Overseas suppliers also represent another factor in the price: competition.  If foreign labor cost is cheaper than the added transportation costs, then the price of US plywood will be impacted.


The reasonable man adapts himself to the world;
the unreasonable one persists in trying to adapt the world to himself.
Therefore, all progress depends on the unreasonable man.
-- George Bernard Shaw