Capitalism is so broken it can’t be fixed

[Fletch]

So, if the gov't imposed a price freeze, the selling of the good above that price would constitute gouging?

It could certainly be defined as such, but then we're off the rails with regard to a putatively free market. Price gouging is just something invented by the government at that point, and has no relationship with market reality.

 

[CarmelHP]

So, if the gov't imposed a price freeze, the selling of the good above that price would constitute gouging?

Disclaimer: I do not endorse price freezing. I'm just seeking to exercise my grey matter. I have an MBA, not a law degree.

If the govt imposed a price freeze, the rope would not be offered and the guy in the well would drown unless some Samaritan stepped up.

-CarmelHP, MBA/JD

 

[hornadylnl]

How about if a man falls down a well and the man at the top wants to sell him a rope to get out for $100 that normally sells for $40? Would that be gouging?

Is your life worth $60?

 

[hornadylnl]

I suggested no remedy and did not recommend govt intervention. I am a small gov't person.

I just wondered if my example constitutes gouging or not?

So, if the gov't imposed a price freeze, the selling of the good above that price would constitute gouging?

Disclaimer: I do not endorse price freezing. I'm just seeking to exercise my grey matter. I have an MBA, not a law degree.

I have a high school diploma and I understand free markets. I'd suggest getting your hands on anything written by Ludwig Von Mises and read it til it makes sense. Not trying to be snarky here.

How does overreaching regulation get instituted in the first place? By people complaining. You personally may not wish for price controls but once the chorus gets loud enough, the government will act. Without regulation, all these gouging complaints are nothing more than complaints. The only way to give teeth to the complaints is through regulation or bullying sellers to act against their will.

It is my belief that many of the complainers here won't publicly endorse price controls on guns but they'd support them privately. If you feel strongly enough to come to a message board to complain about those who board or gouge, logic would state that you want some sort of action against them.

 

[roisigns]

I'll add him to the Rothbard, Hayek and Friedman that I've read. Friedman and Walter Williams are my favorite economists.

Is it weird to have favorite economists?

 

[Classic]

I have a high school diploma and I understand free markets. I'd suggest getting your hands on anything written by Ludwig Von Mises and read it til it makes sense. Not trying to be snarky here.

How does overreaching regulation get instituted in the first place? By people complaining. You personally may not wish for price controls but once the chorus gets loud enough, the government will act. Without regulation, all these gouging complaints are nothing more than complaints. The only way to give teeth to the complaints is through regulation or bullying sellers to act against their will.

It is my belief that many of the complainers here won't publicly endorse price controls on guns but they'd support them privately. If you feel strongly enough to come to a message board to complain about those who board or gouge, logic would state that you want some sort of action against them.

I didn't want to sound snarky either but you have the right idea Hornadyl. Some folks on here just need to get some kind of Econ 101 education (doesn't matter how you get it either). Anything the government does to the free market winds up costing consumers one way or another.

A price freeze can only generate shortages and black markets.

Gouging is perpetrated by the BUYER not the seller. Sellers can not gouge, they only act as an opportunist in their own self interest. Sellers set a price and BUYERS endorse the price by agreeing to the deal.

 

[hornadylnl]

A more accurate analogy to the current gun market than the rope and well would be this.

2 different hikers set out on a 7 day hiking trip. One packs wisely, the other doesn't. The one that doesn't falls into a mineshaft and the one that packed wisely happens by. He tells the stranded hiker he has a rope. The stranded hiker asks how much he paid for it and demands to buy it for the se price, thus leaving the prepared hiker without a rope. The prepared hiker tells him to get bent because out there, there are no rope stores.

 

[88GT]

So, if the gov't imposed a price freeze, the selling of the good above that price would constitute gouging?

Disclaimer: I do not endorse price freezing. I'm just seeking to exercise my grey matter. I have an MBA, not a law degree.

If the government imposed a price freeze, it wouldn't be capitalism.

 

[Carmelbythecorn]

The millions of gun owners using the threat of gun bans to coerce voters to vote against Obama have absolutely no part in this current frenzy? If I had a dollar for every time I heard right here on INGO that if I didn't vote for Romney, it'd be my fault that our guns were banned, a $2000 AR would be pocket change for me. The anti Obama crowd greatly helped to create this monster and now they're crying that it's out of the cage. Boo hoo.

I doubt the Republicans could get out of their own way at this point. They only thing they will have to do with any of this is capitulating to the desires of the Left in this country. They don't realize that they have to be perceived as something other than Democrats Lite. They are neither great tasting nor less filling...they are simply the other side of the big government coin.

 

[Carmelbythecorn]

I have a high school diploma and I understand free markets. I'd suggest getting your hands on anything written by Ludwig Von Mises and read it til it makes sense. Not trying to be snarky here.

Thomas Sowell's Basic Economics is another interesting read.
http://www.amazon.com/s/ref=nb_sb_noss_2?url=search-alias=aps&field-keywords=sowell

 

[Fletch]

Thomas Sowell's Basic Economics is another interesting read.
http://www.amazon.com/s/ref=nb_sb_noss_2?url=search-alias=aps&field-keywords=sowell

I haven't read Sowell, but the two best intro books I know of are:

Amazon.com: Healing Our World: In an Age of Aggression (9780963233660): Mary J. Ruwart, Frances Kendall, Leon Louw: Books

and

http://www.amazon.com/Economics-Rea...496&sr=1-1&keywords=economics+for+real+people

The latter is available as a free PDF from the Mises Institute: http://mises.org/books/econforrealpeople.pdf

 

[hornadylnl]

If the govt imposed a price freeze, the rope would not be offered and the guy in the well would drown unless some Samaritan stepped up.

-CarmelHP, MBA/JD

I saw a tv show with basically a wrecker service on the water. They're charging $1000's to salvage these boats and I'm sure those in need of the service think it's gouging. Never mind the fact that the salvage companies have many 10's of thousands tied up in equipment, fuel and labor to be on scene before the boat sinks. You'd think that people would be happy to be out a few thousand to save the boat vs 10's of thousands in a total loss.

__________________

What we have here in the current gun and ammo market are those who show up to an emergency situation with nothing and expect others to take care of their needs at prices as though they were standing in Walmart.

 

[cbseniour]

Capitalism isn't broken. In America it's simply corrupted by the overreaching intrusion of government that's steadily increased since progressives like Woodrow Wilson decided that they (in the form of government) are wiser and more adept than the power of market forces.

After almost a hundred years of their meddling it should be clear to any thinking person that they were and are quite wrong. Capitalism can be harsh and unforgiving, but if left alone it works.

What he said

 

[dross]

The worst gougers are the ones who don't even offer their stuff for sale.

Priceless? No way that's priceless. Shoot, man, they were sellin' that same thing last week for a hundert bucks and now you won't even quote me a price on it? Priceless is way too high tor that, man.

Capitalism MUST be broke when people are running around thinking their crap is PRICELESS.

 

[mbills2223]

Now I'm starting to get worried.

Hey that's good company to keep! At least for the purpose of this discussion