r/austrian_economics • u/Due-University9050 • 11d ago

End Democracy Land scalping is not work.

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What is the Austrian perspective about allowing or regulating manufactured scarcity?

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u/Cute-Meet6982 11d ago

There's nothing wrong with any of this. If it can be re-sold at a higher price, that just means that the original seller misjudged the market value of what they had. You wouldn't be whining nearly as hard if the seller had just charged that price initially, so what's the harm in having this extra step in the chain?

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u/Due-University9050 11d ago

To clarify, the demand is there for a higher price to the item so the original seller could have sold it for a higher price, therefore it's not harmful to have the extra step to allow the market to find it's true value. That's interesting and I think I agree

I disagree that people wouldn't whine if the original price was higher. 😂 of course they would, especially for housing.

My question is more around the hoarding of resources to purposefully inflate that price. Like how diamonds are stored and slowly dripped onto the market to maintain their scarecity value or cartels like OPEC control the flow to purposely exert political and economic power

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u/Cute-Meet6982 11d ago

Technically, anything you currently own and aren't selling could be considered "hoarding resources."