What happens when you violate the commandment of control? This:
View: https://www.youtube.com/watch?v=7FTnz32EtLs
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Free registration at the forum removes this block.When the price rises, it motivates producers to produce more of the stuff. And also, it motivates distributors to distribute more into the affected area (in case of a local disaster). For instance, in a normal situation, it is not feasible to transport baby formula across the country. But if the price rises, it may become profitable and even producers on the other side of the country can start supplying the affected area.Change hand sanitizer to infant formula.
Is it OK to make profit whilst hospital staff go without masks because 'savvy' businessmen saw an opportunity?
Put it this way.When the price rises, it motivates producers to produce more of the stuff. And also, it motivates distributors to distribute more into the affected area (in case of a local disaster). For instance, in a normal situation, it is not feasible to transport baby formula across the country. But if the price rises, it may become profitable and even producers on the other side of the country can start supplying the affected area.
This is how a free market solves the scarcity problem. If you don't let the free market work, the goods remain in scarcity. So the more important is the product, the more important it is to let the market function.
The hospital can buy the masks from the business man. He has the masks, because he raised the prices which discouraged ordinary people from hording unnecessary amounts of them. And also there would be more masks because what I wrote above.
In case the price didn't rise, the masks would be in peoples homes unused, and the hospital would had nowhere to buy them.
It's a tricky question. I would feel proud of myself because I provided those important things to them when they needed them. And if I didn't do it, they would have nowhere to get them.Would you be proud to tell them you bought up all the hand sanitizer, masks & infant formula and made a massive profit selling it back to them?
Perhaps from the supermarket shelves you cleared LOLIt's a tricky question. I would feel proud of myself because I provided those important things to them when they needed them. And if I didn't do it, they would have nowhere to get them.
The US is the ultimate capitalist society & there's plenty of poverty and hunger there.The world would be a much better place if people understood economics. There would be no poverty or hunger.
If the shelves weren't cleared by me, they would be cleared by other people.Perhaps from the supermarket shelves you cleared LOL
I wouldn't call US the ultimate capitalist society. It doesn't have free markets in all sectors. For instance the most important commodity in the economy - money, is centrally planned.The US is the ultimate capitalist society & there's plenty of poverty and hunger there.
Smells of conspiracy theoryAnyway, this is getting way off topic. I would highly suggest you watch this series about the economy. It is highly entertaining, educational and easy to understand.
Change hand sanitizer to infant formula.
In times of crisis things are rationed because free market becomes profiteering.
Is it OK to make profit whilst hospital staff go without masks because 'savvy' businessmen saw an opportunity?
Oh yeah, I forgot you guys pay. In Britain we have the NHS who we give a round of applause to every Thursday night at 8pm.No reason for hospitals to go without masks. Over in Dallas they have truck loads of masks. I actually went over on Harry Hines Blvd and bought a few for myself because some stores will not let you enter unless you have a mask. And, my mother in law wanted an N95. I'm sure the hospitals could make a deal with the people in Dallas and both would be happy. On the other hand, is it ok for a hospital to charge $300 for a thermometer? Or $36 for a mint? Or $39.95 just to hold your baby? Tylenol pill $15? A box of tissue $8? If it's ok for the hospitals to jam us in the @ss for decades, maybe it's time they got jammed in the @ss back.
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