Tuesday, January 30, 2007

In Defense of Price Gouging

Recently, CNN's Anderson Cooper condemned price gouging in New Orleans as if he was reporting an inherently unjust practice that no reasonable person would accept. So perhaps we need to consider why price gouging is not only not bad, but why it is essential to the welfare of everyone involved. Without "price gouging" after natual disasters, people often don't get the essential goods they need. Free markets after hurricanes or earthquakes are both humane and necessary.

Read more here, "
Price Gouging is Essential and Humane."


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