W3573Y (Edison) Panic Purchasing

Panic buying is defined as “the act of people buying unusually large amounts of a product in anticipation of or after a disaster or perceived disaster, or in anticipation of a large price increase or shortage”.  With the exponential increase of our population and the over-civilization of our society, anytime there is an increase in price or the possibility that an item may have a shortage, people decide they need more than enough in order to satisfy themselves or to possibly make a profit, while others may have none or be forced into paying more than they should.  Some of the most recent examples of this social phenomenon would be the food fuel and water shortages during the hurricane season, the worldwide rice shortage, and the most recent, the firearm and ammunition shortages since the election of Barack Obama.  Even the housing bubble that occurred over the past few years can be considered to have been caused by this same phenomenon.  If you think about it, people were buying houses, sometimes multiples because they figured that the price of a house could go nowhere but up and figured they might as well ‘invest’.  Since Obama has taken office, retailers have claimed an increase of 30-50% in firearm and ammunition sales.  Even those who have never owned a firearm up to this point are purchasing firearms and ammunition.  This all goes back the norms and values of our society in the fact that greed and the over-civilization of our society contribute to this situation.  We as a society are so used to our petty luxuries that once we are forced or even threatened with the idea of the inconvenience of having to go without filling up on gas for a day, groceries for a few days, etc., that we are willing to resort to uncivilized greed.    

3 Responses to “W3573Y (Edison) Panic Purchasing”

  1. Preparedness pro says:

    It is important for families to be self reliant in the event of an emergency. As we can see from Hurricane Katrina in New Orleans, many people expected the government to swoop in and save them and were illy prepared for the aftermath. The turnaround time for FEMA is anywhere from days to weeks. http://tinyurl.com/ak88lv

  2. student says:

    I’m not sure exactly what you are alluding to in your comment. However, Hurricane Katrina is a unique situation, and was not exactly what I was shooting for in my blog. Hurricane Katrina hit New Orleans, which has an extremely high poverty level; many were waiting on their government checks which they were expecting at the first of the month. Also, there were warnings by the local and national government, with mandatory evacuations, which were not heeded. When living in a hurricane prone area, one must expect the worst and hope for the best, this means being prepared far ahead of time, buying small amounts throughout the year and rotating items out. There is no level of ‘prepared’, ‘panic buying’ or hoarding for your family that can prepare one for the effects of a hurricane in an area that is, for the most part, at or below sea level. Being prepared is one thing, panic purchasing because one expects to make a profit or hoard to themselves is another thing.
    -W3573Y

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