Tag: price gouging

Price Gouging

Guest Post by John Stossel

Price Gouging

“We don’t have any…!” Fill in the blank.

People are stocking up on things, fearing that we will be stuck in our homes, under quarantine, without essential supplies.

Some hoard toilet paper. A popular internet video features someone driving up to what appears to be a drug dealer but is really someone selling toilet paper.

When it became hard to find hand sanitizer in New York, Governor Andrew Cuomo said the state would produce its own, made by prison labor.

Yet in-demand items like masks and hand sanitizer can still be found. It’s just that we have to pay an inflated price.

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Price Gouging During a Natural Disaster

Guest Post by Walter E. Williams

Price Gouging During a Natural Disaster

Thirteen states — Alabama, Arkansas, Florida, Georgia, Indiana, Louisiana, Mississippi, New York, North Carolina, South Carolina, Tennessee, Virginia and West Virginia — have enacted laws to combat what is seen as price gouging in the wake of natural disasters. Price gouging is legally defined as charging 10 to 25 percent more for something than you charged for it during the month before an emergency. Sellers convicted of price gouging face prison terms and fines.

Price gouging in the wake of natural disasters is often seen as evil exploitation by sellers to rip off desperate customers. Let’s hold off on that conclusion until after you give thought to some very important questions. First let’s see what we can agree upon.

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Prices Should Rise

Guest Post by John Stossel

Prices Should Rise

Officials in states hit by Hurricane Florence are on the lookout for “price gouging.”

People who engage in “excessive pricing” face up to 30 days jail time, said North Carolina’s attorney general. South Carolina passed a “Price Gouging During Emergency” law that imposes a $1,000 fine per violation.

“Gouging” is an issue during every disaster because when supplies are short, some merchants raise prices.

These are “bad people,” said Florida Attorney General Pam Bondi angrily during a previous storm.

Bad people?

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