It’s only gouging when they do it

posted by
May 12, 2011
Foundation for Economic Education
by Steven Horwitz  
Posted in Commentary

"The recent spate of natural disasters, especially the tornadoes that hit the southern United States, has rekindled the seemingly eternal debate over the supposed problem of 'price gouging.' Interestingly, for all the debate, no one has a clear definition beyond its having something to do with selling products at 'above normal' prices in the wake of a natural disaster. Speaking as an economist, I can tell you the term has no technical definition." (05/12/11)  

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