Question

In mid-March part several individuals who understood themselves to be quite savvy business people, stockpiling such things as hand sanitize and bleach wipes with plans to re-sell at significant mark-up, found themselves on the wrong side of public opinion. Below is an article about one published in the New York Times:

Amazon has since taken action to limit resale of such products.  What justification is there for interfering with such individual's savvy purchasing with intent to resell at significant markup? Legally? Ethically?

Do you think any changes are needed to strike a better balance?  Please explain in detail and cite any sources that may be of interest to colleagues contemplating this issue.

Answer 1

In a crisis like the current pandemic, it is important to hold human values above materialistic values. To buy and hold onto commodities that are deemed as important to fight the virus just to sell it later on with an increased mark up is unethical behavior and it should be condoned in any form.

This is a highly materialistic and capitalist form of doing business. And while it was okay to do it on normal days but during times like this, people must refrain from behavior which could lead to a higher number of deaths in a country or society.

Therefore, the moves to restrain the "savvy" moves of some individuals are justified as it amounts to black marketing in times like this.

To strike a balance, it is necessary to educate and create awareness about the extent of the pandemic and how it is affecting the people around the world in economic terms. While health care is dwindling with the higher number of patients each day, the economic repercussions of the pandemic are yet to be seen. Hence, the people around the world need to be educated about how a large number of people would be left unemployed, how many companies will close their business down and how the countries around the world will face an economic crisis when the health-related effects of the pandemic subside.

This will help in bringing a shift the behavior of people and it may result in bringing a more balanced approach where individuals are inclined to not just take from the society but also to give back in form of aid, volunteering, etc.