Price Gouging During Disasters Is Actually a Good Thing

As fate would have it, the week Hurricane Florence hit the Carolinas coincided perfectly with my lecture on price controls. The 500 price gouging complaints in North Carolina and 118 filed in South Carolina during the disaster’s aftermath serve as a timely reminder that the forces of supply and demand are still widely misunderstood—and that setting prices based on perceptions of fairness does more harm than good.

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