Thursday, November 1, 2012

How far we have yet to come

It is shameful and amazing that as far as we have come as a society, we not only still have legislation on the books like this, but we have politicians who gain favor by promoting it. It would be bad enough if anti-price gouging law was legacy law left over from a bygone age. It is far worse that this harmful nonsense is actively supported.

Look here (from a "leftist" economist), here (the maximum temperature analogy), here (directly refuting the other side), here (a roundup with videos), here (Cowen reminds us that the current owners of resources, shopkeepers, are also the competition), and here (interference with economic triage) for some wisdom on the topic.

To those who support anti-price gouging: The price increase you find distasteful is a symptom of the distasteful (big understatement) events that have transpired. Don't blame the price messenger. He is one of your greatest allies.