Reselling Tickets Above their Face Value and the Cost of Taxation

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Macroeconomics
Chapter 7
In my opinion, there should be no law implemented against reselling tickets above their face value. Tracy Miller’s “Scalping Isn’t Scamming” shows that scalpers increase ticket prices beyond what they should retail. For instance, during one summer, the price of tickets for the Broadway musical “Hamilton” rose from their face value of $189 to $1,000 (Miller 146). Scalpers use bots to purchase tickets on the Internet before the public gets access to them. On that note, I can compare scalpers to wholesalers who go to manufacturers and buy many products at lower prices. Scalping is a legit business, and there should be no law to prohibit it. Besides, the regulation that should exist is the one to license scalpers to avoid scamming. In every business, the buyer is not coerced to purchase any product from the seller. The individual must be willing to buy the products at the set price. Similarly, although scalpers set ticket prices above their face value, they do not force anyone to buy from them. Scalping benefits buyers, ticket producers, and scalpers. For example, last-minute buyers are able to get tickets at any time. Scalpers are brokers who act as the link between ticket producers and buyers. Laws should not be enacted to hinder scalping since it facilitates mutually beneficial transactions. The difference between the ticket face value and new pr...