Supply and Demand..
Supply and Demand (S&D) is universally considered to be a normal and just regulator of pricing. However, there are many situations where S&D can be very UN-just.. Supply and Demand is only 'just' where the market place is predominantly honest, monopoly free and caste free. (mostly one class.)
The main principle behind the S&D pricing axiom is that you keep increasing your price until your profit starts to fall (top of the curve). A lower price will give more sales but less profit. A higher price sees customer resentment and less sales, and a fall-off in profit.
The problem is that this 'top of curve' occurs at a point where about 30% of the public can no longer afford the product!
This percentage is even worse if you have two wealth classes. Eg. The 'Haves' and the 'Have Nots' - The entire lower class is eliminated by S&D, and that could be 50% of the population.
Supply and Demand is also compromised if collusion or a monopoly is allowed to restrict the supply. Eg. The Drug companies have a monopoly and prices can be truly obscene. Land Developers and Local Councils are masters of collusion and Land prices are five times what they could be.
With our current high levels of collusion, monopolies and 'Have Nots' - Supply and Demand can and does discriminate against millions of our citizens! It causes mass deprivation.
Eg. Dentists collude with government to charge $500 per hour! As a result, over 60% of us cannot afford to visit a dentist and endure years of suffering!
[Read: 'Death by Dental']
In times like these, we need a 'Prices Justification Commission' that can ensure that the 35% to 50% who can't afford many necessities of life is reduced to maybe 15%. (a figure that can be accommodated by our welfare systems and providers.)
Supply and Demand can also be used to justify charging severe prices to a captive market.. On a remote highway, a lone gas station can charge ten times the normal price. According to Supply and Demand, that's perfectly normal! Why would anyone complain?
Internet Domain names were made available to everyone for about $9, this low price was designed to assist millions of people to utilize and expand the internet. The Highway robbers quickly moved in and purchased all the 3 letter combination "dot coms" for $9 each and proceeded to sell them for $10,000 or more to companies like BHP that wanted "www.BHP.com".
Again, according to Supply and Demand, that's perfectly normal, and we have no right to complain?
It is NOT called "Highway Supply & Demand" - It is correctly labeled "Highway Robbery"!