Here's where your hand sanitizer went

[Scrapr]

Alas, torches and pitchforks are also sold out!

with the oil price collapse maybe boiling oil?

 

[mh]

It's not hand sanitizer is the only option...soap works too.

Reportedly, plain old soap is more effective than alcohol based sanitizers

 

[steelyman]

Reportedly, plain old soap is more effective than alcohol based sanitizers

I hear it’s better! That is, sanitizers are a backup.

 

[USGrant1962]

In the real world no one raised prices (which you prefer) and then a few people hoarded thousands of hand sanitizers hoping to cash in. People on this site are predicting...and some are even hoping that they will meet with violence.

Perhaps your theory to not raise prices isn't the best option.

Yup, hence empty shelves at Costco, Walmart, Target, your local chain supermarket - all the major retailers in the whole country.

It didn't take one idiot driving around rural Tennessee to cause these shortages. It only takes a small percentage of the panicked doing it everywhere.

Floating prices and rationing would both mitigate it. The problem with rationing is that neither big retail nor big government is nimble enough to respond, and it is unlikely that they can be. IMO, floating prices would be a little more responsive, but still lag reality in a panic situation - especially when someone is willing to pay hard cash to speculate on what might happen in the near future.

OTOH, once an emergency is declared by appropriate authorities (again just about guaranteed to be on a non-nimble timeline) rationing seems to me to be the most reasonable approach.

 

[lucky penny]

I hear it [soap and water] is better! That is, sanitizers are a backup.

As others have said, when you're out & about it's not so easy to immediately wash your hands after touching something.

 

[neihn]

Price gouging is just morally wrong.

 

[Music Lover]

Yup, hence empty shelves at Costco, Walmart, Target, your local chain supermarket - all the major retailers in the whole country.

It didn't take one idiot driving around rural Tennessee to cause these shortages. It only takes a small percentage of the panicked doing it everywhere.

Floating prices and rationing would both mitigate it.

Those are the only 2 solutions that have been proven to work in real life, but some people only see the increased prices and it offends their sense of fairness. It's not the job of businesses, and in fact it's bad business to stockpile massive inventory in the event of a crisis. Try explaining to your shareholders why you need to tie up 2 years of inventory in storage.

Next time there's a hurricane or flood the same thing will happen again. A few panicking people will empty the shelves and hoard goods. Increasing the price limits hoarding and it also trains people to better prepare beforehand. No one suffers when hand sanitizer goes from $4 to $10 but every suffers when none is available.

 

[Fermion]

I could support the floating price if the extra profit from raising the price in time of emergency went directly to a fund which helped out poor families. I don't like it going to the pockets of the sellers.

 

[Music Lover]

I could support the floating price if the extra profit from raising the price in time of emergency went directly to a fund which helped out poor families. I don't like it going to the pockets of the sellers.

You first. Stockpile a bunch of goods that might be required in an emergency and then sell them at cost to the poor in a crisis.

 

[Fermion]

You first. Stockpile a bunch of goods that might be required in an emergency and then sell them at cost to the poor in a crisis.

?

I thought you were saying a way to prevent hording was for the stores that normally sell these products to have a floating price so people would not be able to buy a ton of them to resell at a far higher price. I don't see why Costco would need to stockpile a bunch of sanitizer in greater quantity than they normally do if everyone was just buying 1 at a time because it was $20 a bottle. The extra $15 could be sent to the government to be used in a program to allow the poor to buy a $20 bottle too.

 

[Music Lover]

Well, if Costco wanted to do that it's good. But they're under no obligation and shouldn't be expected to.

Prices fluctuate all the time due to supply and demand...it's just more noticeable in a crisis.

 

[Fermion]

Well, if Costco wanted to do that it's good. But they're under no obligation and shouldn't be expected to.

Prices fluctuate all the time due to supply and demand...it's just more noticeable in a crisis.

I don't know if they should be expected to or not.

In a time of crisis or emergency, expectations change. I certainly don't recall signing anything that says I would not attend a large gathering of people or limit my movements but in a time of emergency I am being expected to do that.

I think it is the reason we do have laws against price gouging but the alternative of floating prices would work too. The public would demand a law curtailing extravagant profits on this behavior though.

 

[ERD50]

...

I think it is the reason we do have laws against price gouging but the alternative of floating prices would work too. The public would demand a law curtailing extravagant profits on this behavior though.

'Fixes' like that almost always have a way of backfiring, or have "unintended consequences".

The govt would be getting extra taxes. Taxes on profits, plus sales tax for local govt. Just the sales tax alone around here is probably a higher % of the sale price than the % profit margin most of these companies make. Govt makes more on a gallon of gas than the oild companies do.

Just let it roll. Trust Adam Smith. These things work out in most cases. Be better for the govt to offer some sort of general relief, rather than trying to micro-manage prices and/or some complicated surge profit hold-back.

-ERD50

 

[Winemaker]

The 2nd dumbest thing is overcharging for a non essential item; first dumbest thing is buying it. The law of supply and demand rules; but what would create such a super strong demand when cheaper items are available?

 

[neihn]

OK, now he just realized that his a bad actor.

https://www.yahoo.com/news/man-17-700-bottles-hand-120815841.html

 

[JoeWras]

OK, now he just realized that his a bad actor.

https://www.yahoo.com/news/man-17-700-bottles-hand-120815841.html

OK, good for him. There is redemption for everyone, earthly or otherwise. Glad he found some now on earth. We all screw up.

In general, I'm not a fan of retail arbitrage. But it is a thing, although generally not to this extreme. I've likely bought products on Amazon that were arbitraged and repackaged from a Costco or Walmart sale, without me knowing.

 

[target2019]

Threat of prosecution is humbling...

 

[atmsmshr]

Hey the marketplace. It's the only way to properly distribute goods and services. Private property. It's mine. You can have all you want if you can afford it. If you can't afford it why should you have any? If you can get it that means somebody else will have to do without it . Or without too much. If I have it all, it's all my private propety so pay me. And what's with these price gouging laws? Camel's nose in the tent of property rights, I say.

It is illegal in Florida to hoard essential goods and become a profiteer in time of an emergency. Lessoned learned from years of hurricanes. I suspect that other states will pass similar laws soon.

 

[Lawrencewendall]

This experiment indicates that soap and water is more effective than hand sanitizer for bread mold at least.

https://interestingengineering.com/...iment-teaches-the-importance-of-washing-hands

 

[JoeWras]

Threat of prosecution is humbling...

Indeed! A donation is a lot less costly.

 

[Sunset]

OK, now he just realized that his a bad actor.

https://www.yahoo.com/news/man-17-700-bottles-hand-120815841.html

"Many of those people also contacted Colvin directly with hate mail and death threats, while one man even banged on the door at his home late Saturday night, according to Colvin and several messages he shared with The Times."

"Officials from the Tennessee attorney general’s office Sunday took the other third, which they plan to give to their counterparts in Kentucky for distribution."

Nice to see Justice in natural and legislative forms in this case ....

 

[target2019]

Indeed! A donation is a lot less costly.

The picture of perp with family was quite endearing.

 

[frances]

He’s still a jerk

I saw the story when it was first published. Regardless of his finally “donating” the stuff he’s still in my book a total prick for what he did.
Driving 1300 miles and buying out everything he could lay his hands on and then trying to justify it by saying he was “fixing” an ineffective distribution system? Please.
Had he marked thing up from $1 to $2 and added shipping I’d be ok with it. (I’ve sold online so I understand about shipping.)
But the markups he did - nope.
Oh, I’m all for making a profit but when there’s a crisis and you’re knowingly gouging people - particularly on things that can mean life or death - that’s completely unacceptable to me.
I hope he’s prosecuted to the fullest extent of the law and is banned for life from Amazon, EBay, and anywhere else that he might try to sell online.

 

[travelover]

Price gouging is just morally wrong.

Exactly. This should be left to the professionals in the pharmaceutical industry.

 

[Fermion]

Exactly. This should be left to the professionals in the pharmaceutical industry.

I dunno, if they came out with a cure or prevention for coronavirus that worked as well as the Hep C cure, I would pay $1000 a pill for a few days. Far cheaper than shutting down the whole world.