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Tuesday, March 24, 2020

Enablers Of Price Gougers

Companies like Amazon, eBay, and others, are the perfect Platform for price gougers, as the images clearly demonstrate.  One of other companies, shown below, reflects a reasonable price for the 3M N-95 Respirators but is out of stock but they help to show us what the prices were before the Corona Virus outbreak.  There is no doubt, these platforms benefit from price gouging because their fees are greater with these inflated prices.




Price is $43.06



Price is $15.75

 "Price gouging occurs when a seller increases the prices of goods, services or commodities to a level much higher than is considered reasonable or fair. Usually, this event occurs after a demand or supply shock. Common examples include price increases of basic necessities after hurricanes or other natural disasters. In precise, legal usage, it is the name of a crime that applies in some jurisdictions of the United States during civil emergencies. In less precise usage, it can refer either to prices obtained by practices inconsistent with a competitive free market or to windfall profits. Price gouging may be considered exploitative and unethical.

As a criminal offense, Florida's "state of emergency" law[2] is an example. Price gouging may be charged when a supplier of essential goods or services sharply raises the prices asked in anticipation of or during a civil emergency or when it cancels or dishonors contracts in order to take advantage of an increase in prices related to such an emergency. The model case is a retailer who increases the price of existing stocks of milk and bread when a hurricane is imminent.

United States. In the United States, state laws against price gouging have been held as constitutional at the state level as a valid exercise of the police power to preserve order during an emergency, and may be combined with anti-hoarding measures." 
https://en.wikipedia.org/wiki/Price_gouging

So far, to my knowledge, the US Government has not provided an easy way to report price gouging; I know at the local level it is very cumbersome for the ordinary citizen.

Please share your experience under the Comment Section; if sufficient comments are posted, I will forward this post to the office of the President, as I have in the past, on other occasions.  They have reacted in the past.