Price Gouging by Private Companies during a Crisis - Case 2 : Restaurant

This picture was posted on FB in protest against the Saravana group of restaurants for their (perceived) huge price markup. The floods in Chennai / Madras and the resulting shortages are one reason for this, The other of course is price gouging. The truth it turns out is that these are their normal 'AC' prices. Also those who were shocked at the 'amount' on the right side of the bill forgot to divide it by the 'rate'. When you do that it appears reasonable. But all that was lost in the hype and outrage generated. As you may imagine, a lot of people were pissed off with this even though the actual impact on their own lives is very little.

Why ?

Because they feel that Saravana has a duty to them. They feel that it should sell them affordable cheap food at all times at any cost.

Why?

Because they feel so. After all, they are special precious snowflakes or cupcakes to whom the world owes a debt for merely existing.

What Saravana may have failed to realise is that if they do not counter this viral post, it will cause bad publicity and will do Saravana more harm in the long term than the Jeevajothi incident where P. Rajagopal, who owns Saravana escaped punishment for the murder of Santhakumar. The hypocrisy of the masses is appalling. It is a generalisation, but most city dwellers are IMO a despot worshiping  population (ancient Rome anyone?), apathetic about someone else's life . So many of them are bothered about the alleged opportunistic pricing of some food items like a dosa or a meal or a coffee, but not the murder of an innocent man.

Had this been a case of price gouging, the shaming done by the free market, is a better deterrent than price controls implemented and exercised by government legal machinery which can be captured by bribing those in power. The murder of a man is not justified but he gets away with it. The supposed price hike is but he gets shamed for it.

Toute nation a le gouvernement qu'elle mérite.

Every nation gets the government it deserves

Joseph-Marie, comte de Maistre (1 April 1753 – 26 February 1821)

Among a morally inept and denial embracing populace, it shows that justice can't be better served merely through unrestricted commerce if individual and property rights are not protected. Without those protections, we do not have laisse faire capitalism. What we have is a proto or quasi fascism instead.