We Need Government When We Need It. Other Times, Nah

May 14, 2020

Who knows if this CNBC news story is real. The talking head outfit has been reporting some interesting stories, and “Top Amazon Exec Calls for Federal Price Gouging Law Amid Coronavirus Scams” ranks near the top of DarkCyber’s List of Amazing Management Utterances.

The story reports:

In a blog post Wednesday, Brian Huseman, Amazon’s vice president of public policy, called for the establishment of a federal price gouging law. While there are price gouging laws in some states, Huseman said they don’t go far enough in protecting consumers against unfair pricing during crises such as the coronavirus pandemic. Third-party sellers were charging unfair prices for in-demand items like face masks and hand sanitizer.

In rural Kentucky, coronavirus products are as rare as clear thinking about the correlation of basketball victories to academic excellence.

Some questions:

  • Can Amazon control the prices its vendor charge for certain products?
  • With lower prices, will Amazon increase its existing sales?
  • Due to Amazon’s lower prices, will other merchants decrease their prices in order to win business?

DarkCyber is confused about what was taught in Econ 101 using that old chestnut of a book by a dude named Samuelson. Available on Amazon for a mere $71.95.

Does the Bezos bulldozer long for regulation? Really?

Stephen E Arnold, May 14, 2020


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