Originally Posted by
bingocallerb22
Tcook, of course you know your definition differs from Wiki, you might want to go there and correct them, it is an open dictionary. You definition sounds more like price gouging, illegal in may places. Don't think AC is doing anything illegal so I chose the softer word profiteering instead of price gouging. But not matter to me, any word will do. And yes, raising prices of roses for Valentines IMHO is profiteering (or whatever word you want)... two wrongs don't make a right. Profiteering exists, so I guess the question is where does profiteering begin in a normal supply and demand equation? Raising food and water prices before a hurricane is clearly wrong, maybe raising prices on one select route for a two week period because students want to get home might be also.
But I've said enough, sorry, I'll keep quiet and let others have their say. Cheers.
The definition I gave
was taken directly from Wiki so no need for corrections:
http://en.wikipedia.org/wiki/Profiteering_(business)
Profiteering is a pejorative term for the act of making a profit by methods considered unethical.
To me my view of profiteering making money off someone else's misfortune and this case doesn't even approach that in any way shape or form as the laws of supply and demand and relative value are nothing new and are used by all of us everyday whether we like it or not.
The difference between profiteering and profits in a supply & demand equation is choice; consumers can't chose not to live without food & water after a natural disaster but flyers are always free not to fly if the price is too high for their liking.