> If every store tripled the price of bottled water you would have truckloads of water arriving within 24 hours with absolutely no government intervention at all
You mean "According to my preferred economic ideology if every store tripled the price of bottled water you should have ...", because it's fairly easy to check the historical records and see that this is definitely not what actually happens.
But by all means, don't let facts get in the way of your faith.
I know it was 4 hours ago but did you forget that we're talking about "price gouging" during disasters or some other event that disrupts normal supply lines?
Disrupted supply lines mean higher cost to deliver materials (longer routes, special equipment, etc). Higher prices encourages suppliers to expend the extra $$$ to deliver the goods. Or even new suppliers to enter the market (for example think about construction workers or tree removal companies in the wake of a large storm traveling to where the work is).
If the price can't change (legally) then suppliers will simply ignore the problem until conditions return to 'normal' thus ensuring shortages.
You: Really? There is no historical record of the market responding to increased prices?
Me: we're talking about "price gouging" during disasters or some other event that disrupts normal supply lines
Seems pretty clear what I was talking about. Your hypothesis about price gouging during emergencies doesn't have historical evidence.
I understand perfectly why you think it should work that way according to your ideology. I was pointing out that, in these circumstances, it doesn't match up with the data.
Plenty of other commenters, with knowledge of inventory logistics, have explained why.
You mean "According to my preferred economic ideology if every store tripled the price of bottled water you should have ...", because it's fairly easy to check the historical records and see that this is definitely not what actually happens.
But by all means, don't let facts get in the way of your faith.