Price Gouging: The Latest Victims

10 November 2008 at 10:09 am 12 comments

| Peter Klein |

Please join me in support for poor, beleaguered gas station owners, the victims of unconscionable price gouging by ruthless consumers who are taking advantage of market conditions to reduce their demand for gasoline, driving down the price by nearly $2 per gallon over the last four months. Fortunately, governments are swinging into action. Georgia governor Sonny Perdue issued this statement: “The financial crisis has disrupted the consumption of gasoline, which will have an effect on prices. However, we expect the prices that Georgian gasoline station owners receive at the pump to be in line with changes in consumers’ incomes and the prices of substitutes and complements. We will not tolerate consumers taking advantage of Georgian business owners during a time of emergency.”

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My Research Assistant Thinks This Is Funny B-School Naming Rights Up to $300 million

12 Comments Add your own

  • 1. Roger Koppl  |  10 November 2008 at 12:47 pm

    Peter,

    As an entrepreneurship scholar you should show more respect for Gov. Perdue who has acted so vigorously to support entrepreneurship in Georgia. In January 2008 he announced “the creation of a $40 million Georgia Research Alliance (GRA) Venture Capital Fund, which will allow the state to partner with the private sector and provide early-stage financing to startup companies based on ideas developed in Georgia’s research universities.” Governor Perdue says, “I expect Georgia to lead the way as a global center for health, and helping our young technology and research companies grow and stay in Georgia is a key part of that effort.”

    So here we have a pro-entrepreneurship governor who can pick winners better than the market can, but you choose to misquote him and lampoon him and besmirch his name. I’m shocked, shocked by your disrespect for this political leader.

    Link: http://www.reuters.com/article/pressRelease/idUS227397+17-Jan-2008+PRN20080117

  • 2. Warren Miller  |  10 November 2008 at 1:31 pm

    Let’s hear it for disrespect, besmirching, and lampooning!! There’s only one good way to look at a politician, and that’s down.

  • 3. Roger Koppl  |  10 November 2008 at 2:00 pm

    Surely, Mr. Miller, as an entrepreneur yourself, you should appreciate all the help Governor Perdue is giving to entrepreneurs in Georgia. Without his superior insight, how would we know which startups are worth backing?

  • 4. Aaron Bilger  |  10 November 2008 at 2:58 pm

    Excellent parody. I wrote about the insane ‘price gouging’ laws causing the shortage a month or two ago, and it’s funny to see how the world would be if politicians were at least consistent in seeing the flip-side. Thanks.

  • 5. Pois « O Insurgente  |  10 November 2008 at 5:53 pm

    [...] Arquivado como: Economia — Helder @ 10:52 pm Price Gouging: The Latest Victims Please join me in support for poor, beleaguered gas station owners, the victims of unconscionable [...]

  • [...] Candlestick Makers, Eat Your Hearts Out Filed under: Catallactics, Curmudgeonliness, Economics — Kevin Feasel @ 11:20 pm Gas station owners:  the latest victims of price gouging. [...]

  • 7. TRUTH ON THE MARKET » Taking Price Gouging Laws Seriously  |  10 November 2008 at 10:44 pm

    [...] at Organization and Markets, Peter Klein notes that consumers have been exploiting producers by taking advantage of market [...]

  • 8. InFrequently Asked Questions  |  11 November 2008 at 12:22 pm

    Gas Station Owners Being Gouged At The Pump…

    I wonder if we can expect any political demagoguery over the falling gas prices, like there was over the summer when gas prices were high?

    Price Gouging: The Latest Victims

    rate this: 

  • 9. Taxonomy  |  12 November 2008 at 9:02 am

    Not In Finland

  • 10. Dave  |  17 November 2008 at 5:50 pm

    I followed the link to the governor’s statement and couldn’t find the quote…am I missing something or are you changing the facts to prove a point.
    The link said “However, we expect the prices that Georgians pay at the pump to be in line with the prices retailers are paying. We will not tolerate retailers taking advantage of Georgians during a time of emergency.”

  • 11. Peter Klein  |  18 November 2008 at 4:09 pm

    You’re kidding, right?

  • 12. Liberator | Stop de samvittighedsløse forbrugere!  |  23 December 2008 at 1:52 pm

    [...] Peter Kleins sag til fordel for ejere af tankstationer. Jan Madsen E-mail: FJERNDETTEmonopolet@gmail.com [...]

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