Comments on: Price Gouging: Not just for campus food anymore http://www.freedomtalks.org/2007/09/30/price-gouging-not-just-for-campus-food-anymore/ The FreedomWorks blog dedicated to lower taxes and more freedom. Fri, 21 Nov 2008 10:28:24 +0000 http://wordpress.org/?v=2.6.3 By: Gas Price Relief http://www.freedomtalks.org/2007/09/30/price-gouging-not-just-for-campus-food-anymore/#comment-85773 Gas Price Relief Mon, 12 May 2008 21:02:56 +0000 http://www.freedomtalks.org/?p=1047#comment-85773 Interesting post. The gas companies create these scare tactics that consumers fall into. It's how they make their billions of dollars. Interesting post. The gas companies create these scare tactics that consumers fall into. It’s how they make their billions of dollars.

]]> By: len hrica http://www.freedomtalks.org/2007/09/30/price-gouging-not-just-for-campus-food-anymore/#comment-63639 len hrica Tue, 06 Nov 2007 23:16:11 +0000 http://www.freedomtalks.org/?p=1047#comment-63639 ryan your lack of awareness is showing.....len uva65 ryan your lack of awareness is showing…..len uva65

]]> By: ryan http://www.freedomtalks.org/2007/09/30/price-gouging-not-just-for-campus-food-anymore/#comment-56762 ryan Mon, 15 Oct 2007 21:02:05 +0000 http://www.freedomtalks.org/?p=1047#comment-56762 art's just mad because he hade to pay a higher price. mabye the government should have stop taxing gas after katrina instead of looking for "price gougers". $ 0.47 per gallon art’s just mad because he hade to pay a higher price. mabye the government should have stop taxing gas after katrina instead of looking for “price gougers”. $ 0.47 per gallon

]]> By: Art Kirkland http://www.freedomtalks.org/2007/09/30/price-gouging-not-just-for-campus-food-anymore/#comment-55063 Art Kirkland Mon, 08 Oct 2007 19:27:28 +0000 http://www.freedomtalks.org/?p=1047#comment-55063 Glad to hear you are an undergraduate, because this is a deciededly underthought piece. First, you misunderstand a basic tenet of economics, Price rises as demand increases and/or supply decreases. That is all well and good on a macro scale. On a micro scale it is price qouging. The gas station owner in your example is simply making a killing on a momentary supply disruption. The fact that he doesn't know when his next supply is coming is immaterial. He will sell out of his supply more quickly than he would have otherwise, and may spend some time without a resupply, but he will still make the same profit unless he raises his price. Raising his price doesn't assure that those who "value" gas more will pay it. It assures that those who can afford it will pay it. As someone who rode out Katrina, let me assure you, price gouging does exist, has nothing to do with the free market, and should be punished. Glad to hear you are an undergraduate, because this is a deciededly underthought piece. First, you misunderstand a basic tenet of economics, Price rises as demand increases and/or supply decreases. That is all well and good on a macro scale. On a micro scale it is price qouging. The gas station owner in your example is simply making a killing on a momentary supply disruption. The fact that he doesn’t know when his next supply is coming is immaterial. He will sell out of his supply more quickly than he would have otherwise, and may spend some time without a resupply, but he will still make the same profit unless he raises his price. Raising his price doesn’t assure that those who “value” gas more will pay it. It assures that those who can afford it will pay it.

As someone who rode out Katrina, let me assure you, price gouging does exist, has nothing to do with the free market, and should be punished.

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