http://knowledgeproblem.com/2010/01/26/price-gouging-in-haiti/ Commentary on Economics, Information and Human Action Mon, 21 May 2012 15:20:05 +0000 hourly 1 http://wordpress.com/ http://knowledgeproblem.com/2010/01/26/price-gouging-in-haiti/#comment-10951 Wed, 27 Jan 2010 13:32:59 +0000 http://knowledgeproblem.com/?p=6307#comment-10951 Peter, admittedly the g-word is an emotionally loaded and pejorative term. Can’t do much about that, I don’t think, but try to improve the sophistication of the thinking that surrounds it. Eventually, like “usury” for example, the concept will become less prominent in everyday economic discourse, the emotional response will be moderated, and less motivating for policy action.

]]> http://knowledgeproblem.com/2010/01/26/price-gouging-in-haiti/#comment-10941 Wed, 27 Jan 2010 01:02:20 +0000 http://knowledgeproblem.com/?p=6307#comment-10941 Price Gouging is an unqualified social good. I learned that in Econ 101, and observed it in practice during the hurricanes that hit my own home town of Texas City, Texas and nearby Lousiana. Price Controls, especially during emergencies, deprives those who need things the most of what they most need, everwhere, every time. During emergencies like the one in Haiti, to be against price gouging is to be pro-death and pro-suffering for the greatest number.

]]> http://knowledgeproblem.com/2010/01/26/price-gouging-in-haiti/#comment-10938 Tue, 26 Jan 2010 23:02:07 +0000 http://knowledgeproblem.com/?p=6307#comment-10938 It is not a question of “gouging” being ethical or not. The g-word word is a rhetorical device used by anyone unclear about supply and demand.

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