The following video prompted me to start this thread. The purpose of this thread is to post content that shows the effects of government intervention in the wake of Sandy and how the market continues to do its job.
This videos shows that although gas station owners are forbidden to raise the price for gasoline, thus, causing shortages, the black market is doing its job. The guy at 1:12 is my hero; he understands time preference when he says, "a lot of people, honestly, don't want to wait three hours."
To paraphrase Marc Faber: We're all doomed, but that doesn't mean that we can't make money in the process.
Rabbi Lapin: "Let's make bricks!"
Stephan Kinsella: "Say you and I both want to make a German chocolate cake."
I am sure that this is in violation of at least 17 ordinances:
And Governor Chris Christie, AKA Slim, has dispatched 45 extra public servants to police price gouging. How crazy is that where there are people with all kinds of issues and the brilliant governor has 45 of them looking into what people are offering with their own property.
"I hear they are considering emergency legislation to do away with the fact/value dichotomy."
Bout f***ing time. People have been waiting for that for millennia now. So much for democracy.
Listen to him explain his surprisement:
FedEx was able to deliver iPad Minis, but the electricity and gasoline are nowhere to be found.
"In an attempt to ease the extended wait times for gas, Christie declared a limited state of energy emergency in 12 counties, saying drivers with license plates with an odd last number could only fuel up on odd-numbered days, while only cars with even-numbered license plates could get gas on even-numbered days."
I wonder if higher prices would have done a better job than what number your license plate ends with?
"The State wil procecute"
Does it have a case?
Dumbasses like christie shouldnt get elected.
I wonder how people with so little economic knowledge can even come into office in the first place....
This is basic economics...
“Since people are concerned that ‘X’ will not be provided, ‘X’ will naturally be provided by those who are concerned by its absence.""The sweetest of minds can harbor the harshest of men.”
Oh man, even before the storm hit, I had my anti-price gouging arguments in the holster. We all knew it would come up, didn't we?
People in lower Manhattan have been scrambling onto buses to come up to midtown and buy food and water. I could conceivably save them the trip and the wait in long lines by buying supplies from around here and selling it lower Manhattan for a profit. I think we all know how that would go down with the mainstream media lynch mob. :P
"Those prices are mean."
Exactly my experience as well, the suspicion that someone is taking advantage of them just overrides all reasoning. They have this huge idea in their minds of all these evil people all over the place. They see this evil as the cause of all their big problems in life, so must fight back at every opportunity or else they feel they're giving up, are powerless to improve things. People who see others like this always look for confirming evidence, but never evidence that would show that the seller isn't evil, isn't out to screw people over.
It makes me thankful that I encountered mises.org a few years ago and was able to reconsider economics. In my own case, it wasn't due to lack of rationality that kept me from understanding, but enemy images I had of companies and people who made profits.
So like you say, all the education about economics would never change their minds, because their objection isn't economic, it's social. I'd probably have zeroed in on their conviction that high prices are always absolute proof that the seller is trying to rip the buyer off. Perhaps start with examples of how things are more expensive on a train, boat, or small island, or how they'd be more expensive if say a place were without power for a month.