Yea for South Korea!
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Capitalism will work that all out. If people aren't willing to pay the high prices, the hotels will be forced to lower prices if they want customers.
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Or only the rich will be there?
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A hotel is not a charity that gives free rooms out for sports fans. Hotels are in the business of making money. If government officials want to make sure people who can't afford a room have somewhere to stay, they could offer to subsidize from their own pockets.
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In the United States price gouging is illegal. Immediately following the terrorist attack of 9/11 there was a gas run. Some gas stations drastically increased pricing. They were fined. The same thing happened in Houston this year during the hurricane and gas stations were fined.
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Different entirely, but still price gouging is not an issue. After a disaster price gouging prevents shortages of supplies, hoarding, and encourages outside suppliers to enter the market in the disaster area.https://www.wsj.com/articles/price-gouging-after-a-disaster-is-good-for-the-public-1507071457 …
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I majored in finance, the theory is correct but shouldn't be used on victims. Price gouging lets the rich survive & in the case of a sporting event, get hotel rooms. How are common folk supposed to compete? In response to the WSJ article, I will let The Dude do the talking.pic.twitter.com/34FzqiXB7k
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It doesn't matter how much money you have if there are no supplies. As far as sporting events, why should a government control how much money someone makes? Why doesn't the government then steal more taxes to build bigger stadiums, so they can fill more seats?
End of conversation
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How about cracking down on the dog meat trade? Won't be watching
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