I just wanted to say it's nice to see folks discussing economics and a bit of politics here and not getting all twisted up with rage or whatever. Nice job fellas and some great points from @soix I will say @ghdprentice there's definitely been some gouging and some companies showing record profits during inflation. Obviously that's not the whole story but it has happened.
Fed rate increase = lower hifi prices?
Will the recent rate hike meant to slow down the economy result in lower hifi prices? Seems everything shot up during Covid. Will we now see some relief?
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@jond +1,000
I wonder if we could ever reach a consensus on which industries should or should not be allowed to price their products as they see fit?
Oil/energy seems to always draw attention when prices rise when, in fact, it may be one of the more efficient markets when it comes to pricing. If a company must prioritize the public good OVER the best interests of the company then wouldn't fair minded people agree that if there is to be a forced pricing ceiling shouldn't there also be a forced price floor? Fair is fair right? Health care costs? Agricultural products? |
@ghasley You are right with regards to your last paragraph when it comes to pricing. Unfortunately, in a true capitalistic society the ability to have no price controls is paramount, and as such free market reign is also paramount. The result of this is what we are now seeing in a number of areas of inflation...caused by legitimate market factors, and most likely many non-legitimate market factors ( like simple profiteering and gouging!) ( LOL, unfortunately some will probably argue that even these non-legitimate factors are perfectly acceptable in a truly free capitalistic system!) |
Indeed. Profiteering and gouging are interesting concepts aren't they. I don't know of too many people who willingly sell something they own for less than market value. I want someone to sell me a perfect JBL Paragon at its original MSRP! Somewhat depends on which side of the transaction one finds themselves. I sortof chuckle to myself though when I hear the accusations of gouging. The opposite of much of the accusations of profiteering or gouging is subsidizing.
I don't get a vote, I just get the privilege of participating, but I believe in free markets so I am equally opposed to price ceilings and/or price subsidies. |
OK, in the context of this thread, lets say that one such industry to have price controls is that of audio/hifi equipment. Who or what would be granted the ability to determine fair prices? edit oh, now this appeared -
What was that little fair is fair motherhood statement? |
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