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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]How do you determine when companies are price gauging? [/quote]

Most of them have been, the past couple years.  There's data.[/quote]

Please tell us about this data and where it is.[/quote]

Look in the "Biden Economy" thread...there have been a hundreds posts with the data.[/quote]

All the "data" in that thread consists of comments that corporations are making record profits. That is not data that supports a thesis of price gouging.[/quote]
[b]
That’s the definition of price gouging.[/b][b] Taking advantage of economic conditions (like big Ag monopolies) to earn enormous profits because there is no competition—whether that be due to monopolies or shortages after strom.

maGAtt: food inflation is killing us. Biden omits failed. We need Trump back to get prices down

Harris:  [b]here is a plan to get prices down by increasing competition in the marketplace[/b] (which is the most Adam Smith way to solve the problem)

MAGAtt:  NO!  Not like that!!

I’m puzzled as to why you want to protect companies that took advantage of COVID and having monopolies to raise food prices and continue ro post record profits, without lowering prices?  That isn’t capitalism.  
[/quote]

Record profits will occur simply because of inflation. You need to look at net profits, not gross profits, and inflation adjust them. Moreover, you further need to adjust the number to earnings per share. Record gross profits by themselves mean very little.

As far as I can tell, the Harris plan is price controls. Those discourage increased competition. What company wants to enter into a business where prices are controlled? [/quote]

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