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Home > Automotive Gasoline Price Gouging Laws As An Anti Capitalist Tool For Price Controls Considered
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Automotive Gasoline Price Gouging Laws as an Anti-Capitalist Tool for Price Controls Considered by L. Winslow
Price Gouging laws seem to break a fundamental principle of free-markets and that is the intrinsic value of anything is indeed, what someone will pay for it. If water is scarce after an Earthquake in San Francisco, which demolishes Nancy Pelosi's district then water will have to be brought in from elsewhere at an extremely high cost. This cost should be allowed to be passed onto the consumer so the business person does not have to bite the bullet or go broke trying to help people.
Next, let's talk about congress setting price gouging laws. If one gasoline station is too high, then they will have to adjust their prices down to meet the other companies otherwise they might be called a price gouger. Some citizens think this is cool, but if that company cannot produce it as cheaply and is forced to sell it at a lower price, they cannot re-invest in tools to increase efficiencies to compete in the market. This gives advantages to whoever is left as they go out of business.
Fewer choices will add to higher prices for consumers, causing the exact opposite of the intended desire. Further if each gas station is setting prices to each other, then they are breaking the "price fixing" rules, so either they are violating the price fixing rules or the price gouging rules. Thus all gasoline stations and companies are breaking the law, one or the other, you see?
Although I am no originator of the thought, I hold with Ayn Rand that what will eventually happen if Congress and the FTC keeps sticking their noses into free-markets on behalf of socialist minded mass media incited masses to look like they are doing something, then eventually no one will be selling fuel, there will be none available.
If you think this comment is way off base, I could see it happening with the bouquet fuels and mandatory ethanol usage after periods of crop failures from droughts or flooding. You know we really need to get Congress some economic lessons and level the FTC to deal with consumer baby-food issues. Think on it.
About the Author
L. Winslow is an Economic Advisor to the Online Think Tank, a Futurist and retired entreprenuer http://www.worldthinktank.net . Currently he is planning a bicycle ride across the US to raise money for charity and is sponsored by http://www.Calling-Plans.com and all the proceeds will go to various charities who sign up.
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