If there are acute shortages, yes lives can be at stake because of major disruptions in the food supply.
Several weeks ago, nobody assumed that 'Purell' or 'toilet paper' was going to fully sell out everywhere, rather, simply that there would be increased demand for it.
All retailers who sell Purell have their buyers clamoring to buy as much as possible because they know their customers want it, and there's no reason to think that the price won't be increased somewhat.
In fact, given the excessive demand and challenges in production, Purell will probably be increasing its wholesale price ... and then some.
So are retailers - buying up as much Purell as possible and probably selling for a little bit of a markup considered 'hoarders'? So long as they have the intention of selling it for not-some-crazy-price, then it's just normal business.
There's no reason individuals can't do the same.
As long as this guy was not price gauging, and he was in fact selling, then what are they going to charge him with exactly?
It's reasonable that the government put restrictions on certain goods during a crisis, such as margin limits, the requirement to not hold inventory etc. but the same would have to apply to this guy.
If he bought his inventory before any emergency crisis or calamity ... then again, what's the legal crime? Buying Purell 2 months ago was normal, but 'having Purell inventory' now is illegal?
I have no lost love for this guy, but that he gave his inventory away is punishment enough.
He stopped being "supply and demand" when the state of Tennessee declared a state emergency.
Upon the declaration of a state emergency, charging "grossly excessive" prices for food, construction services, emergency supplies, or other vital goods or services.
Subject to civil penalty of between $1,000 and $3,000 per violation.
The definition of "excessive" or "unconscionable" pricing is generally determined by looking at average prices in the affected area over a given look-back period prior to the emergency, typically six months or so. If prices are 10 or 15 percent higher (some states have different thresholds), then it may be determined that price gouging has occurred.
*He was making good money while the going was good.. --BUT-- he should've known the laws the surround his entrepreneurial endeavor. He should've known that he needed to stop selling over 10% ~ 15% when the state declared an emergency.
Several weeks ago, nobody assumed that 'Purell' or 'toilet paper' was going to fully sell out everywhere, rather, simply that there would be increased demand for it.
All retailers who sell Purell have their buyers clamoring to buy as much as possible because they know their customers want it, and there's no reason to think that the price won't be increased somewhat.
In fact, given the excessive demand and challenges in production, Purell will probably be increasing its wholesale price ... and then some.
So are retailers - buying up as much Purell as possible and probably selling for a little bit of a markup considered 'hoarders'? So long as they have the intention of selling it for not-some-crazy-price, then it's just normal business.
There's no reason individuals can't do the same.
As long as this guy was not price gauging, and he was in fact selling, then what are they going to charge him with exactly?
It's reasonable that the government put restrictions on certain goods during a crisis, such as margin limits, the requirement to not hold inventory etc. but the same would have to apply to this guy.
If he bought his inventory before any emergency crisis or calamity ... then again, what's the legal crime? Buying Purell 2 months ago was normal, but 'having Purell inventory' now is illegal?
I have no lost love for this guy, but that he gave his inventory away is punishment enough.