Proper Market Response or Evil Corporate Greed: the Price Gouging Question
Posted by: Blue Collar Muse in Blogroll, Business, Common Sense, Economics, Education, Energy, Entitlements, Infrastructure Issues, Tennesee Tips, The EconomyIt was both encouraging and yet, a bit surreal, to have had this discussion with The Much Younger Trophy Wife on the way home from church yesterday morning and then to see it played out on the InterWebz.
I’m encouraged because I felt sure that it was only me that understood that there really is no such thing as “price gouging” or at least it is far more rare than anyone truly understands.
Then, I dropped by Michael Silence’s place and got referred to a couple of others, including Tennessee blogger Rich Hailey at Shots Across the Bow (congrats on your Instalanche, Rich).
Michael also referred me to a couple of great articles by Rand Simberg. His article from just after Katrina, ‘Three Cheers for Price Gougers’ is excellent and cannot be recommended highly enough.
Between Rand and some good ol’ boy, Tennessee common sense from Rich, we should be able to put this lunacy to bed. But there will always be Left wing whiners who incorrectly believe they have a right to what others have simply based on their need. That error has been shown to be a fallacy at least as far back as the 50s and Atlas Shrugged by Ayn Rand. But the point needs making over and over again in every generation.
Kudos to Rich and Rand for doing so and doing so well!
Blue Collar Muse
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Tags: Basic Economics, Market Forces, Michael Silence, Price Gouging, Rand Simberg, Rich Hailey, Shots Across the Bow, Supply and Demand






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