For those who don't know: a basic law of economics is that when their is HIGH demand for a service and a LOW supply of that service, prices will rise.
The service of transportation was trimmed back when the engineer chose to speed around the tracks and crash the train. Ergo, the airlines saw an INCREASED demand for their services.
Pretty simple explanation.
Actually, they have computer programs that raise the prices automatically when there’s more demand for a route.
Speaking of the Amtrak crash, anyone heard an update on the investigation? I had the impression initially that the engineer hit the gas instead of the brakes going into the turn, but I haven’t seen any update on the story in quite some time.
The ENTIRE Air Line “Industry” has been out of control for a long time. They NEVER should have been “De-Regulated”!
I think they did, so why isn’t the Department of Transportation on top of it? Oh yeah....I forgot....they are getting to much money paid to them UNDER the table to keep their mouth shut....that should work...
The term “gouging” reflects a statist policy preference. Standing in a queue is a common activity in a welfare state, perhaps one of the leading uses of time.
Statists think it’s virtuous for plebes to stand in line to wait for their rations.
They would rather everyone have to stand in line or experience shortages, than the 1%, or plebes with a consumption preference, to get access to services or good because of their willingness and ability to pay.
By giving Amtrak a monopoly on passenger train travel, isn’t the government itself guilty of price fixing.
Beating up EEEEEEVIL Corporations in the name of The Little Guy is going to be a cornerstone of the 2016 Dem campaign.
Oh boy. i suppose I should look out for a federal probe. I price gouge all the time. When one of my customers comes in and needs a part made over night or next day I charge double my hourly rate.
They’ve gotta get with the Uber language on this—they had “surge” pricing.