| Dear Letters Editor: Unbelievable! The Palmdale City "Council support price-gouging law" (9/24). Don't these people know anything about economics? High prices tell suppliers to "Rush your products here!" By muzzling price, the Council will render any cry for help in an emergency mute. Don't expect every supplier to suddenly transport inventory or enter a new marketplace for a lousy 10% increase over the pre-emergency market rate. Thanks to the Council, we will not get the supplies or labor we need to repair damages or otherwise accommodate a sudden surge in demand. Price also allocates supply according to its value to consumers. When you control prices, you'll also have to control supply, else a few will consume more than they really need, because it's so inexpensive relative to emergency market value. Late comers will find the shelves empty. Thanks to the Council, late comers will be begging first comers in the parking lot to sell them part of their purchases for much more than the regulated retail price. As the bids increase and frustration mounts, supply will eventually be allocated by force. OK, Council now that you've created this mess and there are fights in parking lots, you attempt to control supply. How will you know exactly how many of each and every product at each and every store is NEEDed by each and every customer? Every time anyone arrogantly attempts to manage markets, they only create more problems. Sincerely, Bill Holmes, Vice Chair Antelope Valley Libertarian Party P.O. Box 3202 Quartz Hill, California 93586 wtholmes@compuserve.com, 661-943-7473 voice/fax http://synergy-enterprises.com/wth.html |
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