Price Gouging

Working People Place Cost Of Living As Top Concern In US Elections

October 29, 2024 Natalia Marques, People's Dispatch. Educate! 2024 US Presidential elections, Cost of living, Donald Trump, Finance and the Economy, Housing, Inflation, Kamala Harris, Poverty, Price Gouging, United States

Just eight days remain until the people of the US head to the polls to decide their next president. The economy and inflation continues to be the top issue for voters by far, with eight in ten registered voters saying the economy will be very important to their vote according to the Pew Research Center. According to Gallup, the economy is the most important out of 22 issues voters were polled on, including “terrorism and national security”, immigration, education, healthcare, and crime. If one were to read exclusively the mainstream media, one would get the impression that all is well with the economy, that inflation is falling, and the job market is doing just fine.

It’s Important To Focus On Companies Using Inflation To Jack Up Prices

February 16, 2024 Janine Jackson, Fairness and Accuracy in Reporting Educate! Capitalism, Corporations, Inflation, Price Gouging

If you buy groceries, you know that prices are high. And if you read the paper, you’ve probably heard that prices are high because of, well, “inflation,” and “shocks to the supply chain,” and other language you understand, but don’t quite understand. One article told me that economists see pandemic-related spending meant to stabilize the economy as a factor, along with war-impacted supply chains and steps taken by the Federal Reserve to raise interest rates —all of which may be true, but still doesn’t really help me see why four sticks of butter now cost $8. Not to mention that the same piece talks matter of factly about “upward pressure on wages,” which sounds like people who need to buy butter are getting paid more, but I’m pretty sure the language is telling me I’m supposed to be against it.

New York State Pays Up To 15 Times The Normal Prices For Medical Equipment

April 7, 2020 Lydia Depillis and Lisa Song, ProPublica. Educate! COVID-19, Health Care, New York (NY), Price Gouging

With the coronavirus outbreak creating an unprecedented demand for medical supplies and equipment, New York state has paid 20 cents for gloves that normally cost less than a nickel and as much as $7.50 each for masks, about 15 times the usual price. It’s paid up to $2,795 for infusion pumps, more than twice the regular rate. And $248,841 for a portable X-ray machine that typically sells for $30,000 to $80,000. This payment data, provided by state officials, shows just how much the shortage of key medical equipment is driving up prices. Forced to venture outside their usual vendors and contracts, states and cities are paying exorbitant sums on a spot market ruled by supply and demand. Although New York’s attorney general has denounced excessive prices, and ordered merchants to stop overcharging people for hand sanitizers and disinfectant sprays, state laws against price gouging generally don’t apply to government purchases.

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