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My relative argues that price gouging should be legal to save the people severely affected by Helene, what do you think?
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Personally, I think they should be completely ashamed of themself. I've been pretty pissed off about this all day because this was someone I used to look up to.

However, maybe I'm naive. I'm curious what others think.

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Resources are not allocated to those that value it most. People die from diebetes because they can't get insulin, and they would highly value insulin.

Price gouging reduces supply. If a seller knows prices will go up then they will keep supply low so they can sell resources at a higher amount later.

The people who need resources the most are also the ones who have least access to those resources. Increasing prices will only make it harder for them to get those resources.

Anybody that argues for price gouging is arguing that as few people as possible should be able to obtain little resources as possible.

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1 month ago