About Price-Gouging
@mythociate (21432)
Oklahoma City, Oklahoma
February 16, 2022 10:54am CST
I saw on FLASH POINT (a news-discussion show on local TV in Oklahoma) talk about anti-'price gouging' laws in Oklahoma.
(Basically: when an area's leader declares a state-of-emergency, there's a limit on how high sellers can price their items.)
FLASH POINT's main discussion that day was about how 'certain companies got around the laws' because their products are "commodities"---that they weren't even LOOKING at consumer-demand, but were price-gouging on account of 'being gouged by the costs.'
(FindLaw lists anti-'price gouging' laws in all the States.) https://www.findlaw.com/consumer/consumer-transactions/price-gouging-laws-by-state.html
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2 responses
@mythociate (21432)
• Oklahoma City, Oklahoma
18 Feb 22
No. I'm talking about things like gasoline and electricity (there was a big news-story about how--since Texas isn't connected with the rest of America's electricity--electricity-companies there could charge huge prices after a big freeze damaged a big part of its system).
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@askme123 (6226)
•
19 Feb 22
@mythociate ok I see your point.Yes the prices of everything going up now.Food that use to be cheap going up too.
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@mythociate (21432)
• Oklahoma City, Oklahoma
19 Feb 22
@askme123 Yes, but most States' anti-gouging laws protect people AGAINST food-prices going up too high.
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@mythociate (21432)
• Oklahoma City, Oklahoma
24 Feb 22
@askme123 But if your salary DOES go up, you're probably going to see prices go up even more. (That's why they call it "inflation"---it's not 'the prices going up,' it's "the money-supply inflating, with the prices rising because sellers think that means there's more money to take care of.")
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