• Gabe Bell@lemmy.worldOP
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    7 months ago

    There’s also a thing called price gouging where companies fuck over the public because they know they can. And then they keep the prices artificially high even after supply increases two, three, four fold over demand. Because they know they can.

    Not that I am suggesting corporations are corrupt and would let people starve just to make a profit. Heaven forfend.

    • Chestnut@lemmy.world
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      7 months ago

      To be clear, price gouging is an example of supply and demand

      Keeping prices high is an example of price fixing, not supply and demand. It requires companies colluding with each other because, otherwise, one company would just lower their prices to get more business and make more money

      • Gabe Bell@lemmy.worldOP
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        7 months ago

        Raising your prices by a reasonable amount to meet extra costs is supply and demand.

        Raising your prices by three, four, five or six times a reasonable amount is gouging and is not supply and demand. It’s gouging and fucking over your customers, especially those who need your products.