Price Controls Hurt Sandy Victims

When we hear the term “Price Gouging” that brings to mind and image of the evil shopkeeper charging what ever he wants for essential items after an emergency or disaster; there’s more to it than that.  Review the two videos below for examples of how price gouging actually helps groups of people affected by disasters

For those of you interested in pursuing independent scholarship of economic science, a great place to start is with Henry Hazlitt’s classic Economics in One Lesson available in hardcover or for free online.  Chapter 17, Government Price-Fixing is immediately relevant.