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Politics : Formerly About Advanced Micro Devices
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To: Road Walker who wrote (321447)1/18/2007 1:07:49 PM
From: TimF  Read Replies (1) of 1573927
 
People don't only act out of desire for profit. I didn't say that people will not charitably sell things at below market rates, or even give them away for free, but rising prices are a more reliable way to indicate what is really needed, and to encourage people to get it there.

The existence of price gouging laws didn't cause you to fly in and work for 12 hours a day for five days selling goods at below market rates, either your own charitable impulses, or pressure from Home Depot did. Get rid of the laws, and those factors shouldn't go away, but other people who don't have the same pressure or charitable impulses will be motivated by the desire for profit. If Home Depot and their suppliers and similar sources alleviate the shortage of some goods, then the market clearing rate for those goods will go down, and no one has to worry about "gouging", meanwhile the cost for whatever goods they don't provide enough of, or in whatever areas they don't reach will go up, signifying a shortage, and encouraging supply.
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