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Is Price Gouging Illegal? Immoral - LearnLiberty

im definitely not as pro-gouging as the guy in the video.
i understand supply and demand.
but preying on desperate people in order to make money
is at least ethically wrong,
probably actually morally wrong.
arguing that businesses are actually doing the desperate customers a favor
by raising their prices during emergencies is completely ridiculous.
in my humble opinion of course.
 
I don't see anything immediately wrong with his reasoning.
 
I don't know. I think his example is a little far fetched. In his example, charging someone more to keep a child alive is pretty ****ty in my opinion. But charging someone more for a generator so they can keep their beer cold is far different.

I would say gouging for certain reasons is fine, while gouging for others is bad. It's not across the board ok or across the board bad. At least not in my opinion.
 
economics != morality

yes its wrong if someone is being taken advantage of for basic needs
 
megaprogman said:
economics != morality
Click to expand...

I agree, ethics would be a better field to address.

Is it ethical to charge more in a situation of great need?

I don't know. I think his example is a little far fetched. In his example, charging someone more to keep a child alive is pretty ****ty in my opinion. But charging someone more for a generator so they can keep their beer cold is far different.

I would say gouging for certain reasons is fine, while gouging for others is bad. It's not across the board ok or across the board bad. At least not in my opinion.
Click to expand...

The problem is that there is little to no way for the seller to identify the intended use of the buyer. Sure, they could ask, but if that seemed to be so important, the buyer could always lie. How would you, as a seller, ensure that the individual getting the object at a lower price indeed needs it for an important reason?
 
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