Price Gouging = Bad, Right?
Here are several columns on proce gouging, the mechanism of price, and general economics as related to the aftermath of any disaster.
John Stossel, from ABC News.
Iain Murray, of Tech Central Station.
William Tucker, with the American Enterprise.
Walter Williams, George Mason University.
Walter Block, Loyola University.
Everybody wants prices to be lower. Many argue that they should be lower. The question that must be asked is: who should correctly set the prices, the seller or the buyer? Those arguing for price controls is saying that the consumer is more important the the producer, and has no legitimate claim of ownership on what he produces. And we wonder why there is a struggle for property rights in this country.
If the Kelo v. New London decision angered you, for the same reasons that it did, you should not be in favor of price controls.
Also, the kook network is busy circulating emails urging a gas-out, or boycott. As usual, urban legend website Snopes sorts of these actions, and shows that they would do more harm than good. Supply and demand, as always.