PC friday question of the day.

[yuneeq]

Yes would have been shorter. 
I will have to totally disagree with you. Once something becomes scarce fair market value no longer works. It removes "fair" from the equation.

Understood. Do you think it’s better or more fair to everyone that a crisis will last longer? Or do you disagree that this happens during a crisis due to price gouging laws?

[CountValentine]

Understood. Do you think it’s better or more fair to everyone that a crisis will last longer? Or do you disagree that this happens during a crisis due to price gouging laws?

Not fair when they last longer. Not sure on how price gouging effects the length of the crisis.
Little background for you. This whole thing came about from selling gas rewards. My point was just because someone will pay xx that does not automatically mean it is a fair or not a fair price.

[zh cohen]

Which of these

ETA: I good description of "fair market value": Prospective buyers and sellers are reasonably knowledgeable about the asset, behaving in their own best interests, free of undue pressure to trade and given a reasonable time period for completing the transaction. Given these conditions, an asset's fair market value should represent an accurate valuation or assessment of its worth.

Is not present in this scenario?

Little background for you. This whole thing came about from selling gas rewards. My point was just because someone will pay xx that does not automatically mean it is a fair or not a fair price.

[yuneeq]

Not fair when they last longer. Not sure on how price gouging effects the length of the crisis.
Little background for you. This whole thing came about from selling gas rewards. My point was just because someone will pay xx that does not automatically mean it is a fair or not a fair price.

Just googled and see that economists tend to agree with what I've written above that price gouging laws hurt more than they help, and that it hurts supply ie. crisis lasts longer.

https://www.marketplace.org/2017/09/01/why-economists-dont-think-price-gouging-problem/
https://www.johnlocke.org/update/practical-compassion-lets-prices-rise-during-a-crisis/
https://hbr.org/2013/07/the-problem-with-price-gouging-laws
"This long-simmering “hold vs. raise prices” debate is polarizing. I’ve found that no amount of persuasive argument can change one’s views. As a society, we are at stalemate on this issue."

Link to the article/discussion about gas rewards? Are you referring to someone that pays $0.50 a gallon and marks it up to $2 and want to discuss if $2 is a fair price?

[ExGingi]

Not fair when they last longer. Not sure on how price gouging effects the length of the crisis.
Little background for you. This whole thing came about from selling gas rewards. My point was just because someone will pay xx that does not automatically mean it is a fair or not a fair price.

Have you ever heard anyone say "the solution to $100/bbl oil is $100/bbl oil"?  We've seen it play out exactly like that.

[CountValentine]

Have you ever heard anyone say "the solution to $100/bbl oil is $100/bbl oil"? 

No.
I did hear "if you build it they will come".

[ExGingi]

No.
I did hear "if you build it they will come".

https://www.investopedia.com/ask/answers/030315/why-did-oil-prices-drop-so-much-2014.asp

Spurred by the negative effect of high oil prices on their economies, countries such as the U.S. and Canada increased their efforts to produce oil. In the U.S., private companies began extracting oil from shale formations in North Dakota using a process known as fracking. Meanwhile, Canada went to work extracting from Alberta's oil sands, the world's third-largest crude oil reserve. As a result of this local production, the two North American countries were able to cut their oil imports sharply, which put further downward pressure on world prices.

[CountValentine]

https://www.investopedia.com/ask/answers/030315/why-did-oil-prices-drop-so-much-2014.asp

What's your point? 

[ExGingi]

What's your point?

As pointed out by @yuneeq allowing the free market to take care of itself will eventually bring equilibrium. The invisible hand works.

Using the example of gas shortage after Hurricane Sandy, allowing free market pricing (and imports from other states) would have rapidly brought an end to the shortage (not that it lasted that long). Protection from Cartels and monopolies is where government intervention may have a positive effect. Market forces will generally take care of pricing.

[CountValentine]

As pointed out by @yuneeq allowing the free market to take care of itself will eventually bring equilibrium.

Where did I disagree with this?

[ExGingi]

Where did I disagree with this?

Who said you disagreed? You asked how price gouging affects the length of the crisis. I gave you an example of how the high prices contributed to actually end the high prices, by making fracking and oil sand extraction financially viable.

[CountValentine]

Who said you disagreed? You asked how price gouging affects the length of the crisis. I gave you an example of how the high prices contributed to actually end the high prices, by making fracking and oil sand extraction financially viable.

Maybe regular English is tripping you up. Don't recall asking how price gouging affects the length of the crisis.

[ExGingi]

What did I misread?

Not fair when they last longer. Not sure on how price gouging effects the length of the crisis.

[CountValentine]

What did I misread?

In regular English there is a difference between a statement and a question. 
I answered the question:  Or do you disagree that this happens during a crisis due to price gouging laws?
With a statement: Not sure on how price gouging effects the length of the crisis.
So when you stated: You asked how price gouging affects the length of the crisis.
I never did ask because I really didn't care.

[CountValentine]

Anyone? @jj1000

[davidrotts63]

Anyone? @jj1000

Guns.

[jj1000]

Anyone? @jj1000

Are people born bad or is it their upbringing/environment?

I.e. Would you kill baby hitler or just give him a better upbringing.

Also on topic if you want, how much do parents really influence their kids lives. You see so many people with different upbringings come out so many different ways, what choices as a parent really makes a difference.

[Definitions]

Are people born bad or is it their upbringing/environment?

I.e. Would you kill baby hitler or just give him a better upbringing.

Also on topic if you want, how much do parents really influence their kids lives. You see so many people with different upbringings come out so many different ways, what choices as a parent really makes a difference.

Why is the assumption that they're born bad?

[mmgfarb]

Are people born bad or is it their upbringing/environment?

I.e. Would you kill baby hitler or just give him a better upbringing.

Also on topic if you want, how much do parents really influence their kids lives. You see so many people with different upbringings come out so many different ways, what choices as a parent really makes a difference.

Welcome to the wonderful world of human psychology.

[jj1000]

Why is the assumption that they're born bad?

Who said it is? Just the fact is people do bad things, so where does that come from...