Comment on Isn't Greedflatiin just inflation with different people profitting?
sheeeep@lemmy.world 11 months agoPrice gouging is rising the price of a product above market price.
But what is the market price? If people are willing to pay for it then its the market price. So its adjusting the price to the current demand. There are times where this is unethical for example profiting from wars and disasters, but generally this is how things go.
Vendetta9076@sh.itjust.works 11 months ago
While you’re correct within the definitions of the words you’re using, it completely misses the point of what Ive said.
sheeeep@lemmy.world 11 months ago
I am not sure. If I understood correctly then you separate between price gauging and currency devaluation. But even in the most perfect currency devaluation, where every one in the supply chain would increase their price by exactly the rate of inflation. What would happen to everyones profits? They would also go up.
Vendetta9076@sh.itjust.works 11 months ago
Im separating them because they are different things. That doesn’t mean they don’t work in tandem. It just means they are different words with different definitions.
Also your statement is incorrect most likely due to operating costs associated since those also go up. But that instance wouldn’t be price gouging.