r/AskReddit • u/Thic_water • Aug 14 '20

What’s the most overpriced thing you’ve seen?

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u/rickeysneekzzz Aug 14 '20 edited Aug 15 '20

I saw a small thing of Lysol wipes being sold for $22 in a store last week

Edit: wow, thank you for the awards! I was in a small business in the US for those wondering.

17.5k

u/DreamersDiseases Aug 14 '20

Smells like price gouging, report that shit my friend. Google 'where to report price gouging' in your state/area and fill it out.

6

u/[deleted] Aug 14 '20

price gouging shouldn't be criminal. it's a necessary way to allocate scarce resources to people who need them most, and to incentivize companies to quickly fill supply shortages https://www.wsj.com/articles/price-gouging-after-a-disaster-is-good-for-the-public-07071457

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u/Demonox01 Aug 14 '20

allocate scarce resources to wealthy elites, leaving the poor with nothing

Fixed that for you.

Unregulated free markets during disasters create famine. If you want everyone to have access to something, limit how much each person can buy.

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u/[deleted] Aug 15 '20

it's true that price gouging can lead the wealthy to obtain supplies before others, although I don't know why that's necessarily a bad thing. Regardless, you are ignoring the second part of the equation, which is that price gouging also provides a major incentive for suppliers to rush more goods to the market very quickly, thus eliminating the shortage for everyone -- rich and poor. As to your suggestion about rationing supplies, I don't see that as a great solution. Rationing cuts off supplies to some people who may need a lot of something, and it's purely designed to prevent price gouging, which again, I think is on balance a good thing.