Originally Posted by The_Real_Hawkeye
Originally Posted by UPhiker
Originally Posted by CraigC
Price gouging is a liberal invention. Resist the urge. Unless you know exactly how much it costs Colt to build a gun, how would you even know?

Because I see that Colt dropped their wholesale prices by a few hundred dollars on their 1911s and ARs in the last few years. Obviously, they were overpriced and people weren't buying, now they are. If I used price elasticity instead of gouging, would you be happier?

Gauging doesn't just imply that the seller is asking more than buyers are willing to pay. In that event, sellers would just not sell many of their products. Gauging implies that the seller has a moral duty to sell at a more affordable price, but won't, which is a view held by people who don't understand free market principles.

That's why I included price elasticity. Do you know what that means? Colt was thinking that their name recognition afforded them a higher markup than the consumer did. Also. what's "gauging"?

Last edited by UPhiker; 07/16/19.