The moral imperative...

...What money ought not to buy

Standing in the queue for movie tickets for hours and getting them was a common childhood experience for many of us. This was clearly a function of demand and supply. Those who did not get tickets but had the money simply bought tickets in black. This is how the asymmetry in the market worked. Those who sold and bought tickets in black possibly suffered from a temporary pang of guilt. However, with economic rationality taking over, we now have dual pricing – and the rent that was sought by the black marketeer is now transferred directly to the cinema hall. The guilt is washed away and there is a price discovery. However, it has also taken away the livelihood of the black marketeer who would have been a poorer intermediary between the multiplex owner and the consumer. Is that something we need to consider from a moral point of view?