Estes 2022 price increases...some kits almost doubled in price.

[Sandy H.]

The example you mentioned in not capitalism but a distortion of it. There are plenty of those. In this case the free market was restricted and there was trade restraint. If several water vendors were allowed there and each had plenty of supply, there would have been a 'moral' outcome as price discovery would have worked its way to the benefit of societal slice at that event. Interfering with capitalism is immoral.

Ok, I have no issue with that. It seems that the times where supply is artificially restricted (water at the event, even though I brought my own) or restricted due to disasters (9/11, Katrina, Ukraine etc.) that a free market doesn't work morally (as I see it, not the universal truth). If those events are handled based on mostly costs and not the market, then I'm fine with it.

Sandy.

 

[cls]

Capitalism has proven to deliver an abundance of products and services with increasing quality and lower costs over time

Oh my, that's a steaming pile. You don't really believe that, do you? Plenty of counter examples and contrary situations, enough to completely demolish your assertion...

 

[lakeroadster]

Oh my, that's a steaming pile. You don't really believe that, do you? Plenty of counter examples and contrary situations, enough to completely demolish your assertion...

Take a look at where the world has typically turned to, in times of disaster. Hint.... it sure as hell isn't Venezuela.

 

[cwbullet]

Where is the line between "capitalism" and "price gouging" drawn ?

Dave F.

Price gouging is raising the prices before and after a hurricane (need). Capitalism is similar but is based on demand and supply. There are laws against the first one.

 

[afadeev]

Capitalism has proven to deliver an abundance of products and services with increasing quality and lower costs over time

Oh my, that's a steaming pile. You don't really believe that, do you? Plenty of counter examples and contrary situations, enough to completely demolish your assertion...

I sure hope he does, as there is ZERO evidence of any other economic system doing better, over time.
If you've got one, do share. Otherwise, the steaming pile is all yours.

 

[jderimig]

Where is the line between "capitalism" and "price gouging" drawn ?

Dave F.

There is no line. "Price gouging" is the most efficient and cost effective mechanism to get needed goods into disaster areas.