More on "Unconscionably Ridiculous" Gouging Laws
Greg Mankiw has an excellent post on why Bush will probably veto the "unconscionably ridiculous" Federal Price Gouging Prevention Act," which passed the House and now moves to the Senate.
CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Friday, June 15, 2007
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
Previous Posts
- A Master of the "Economic Way of Thinking"
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- Anybody? Anybody?
- Taco Trucks vs. The Restaurant Cartel in Salinas, CA
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- Quote of the Day: Swedish Tax Lesson for Congress?
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- The Cheapest Car in History is Coming in 2008
1 Comments:
I have a different perspective on this law. Granted, my perspective is tongue-in-cheek but if you can't laugh at stupid lawmakers, who can you laugh at?
Sent as a letter to the Detroit News but it didn't get published:
Representative Bart Stupak’s anti-price gouging bill on gasoline may bring Americans some much-needed relief. Given that government taxes on a gallon of gas are twice as much as the profits earned, Congress would immediately be in violation of charging "unconscionably excessive" prices. Imagine the relief to taxpayers if Congress were in jail and unable to meddle in our affairs.
I can always dream of utopia can't I?
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