Justice League Searches Their New HQ
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Corporations Are People
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On how price gouging benefits you
I often offer this video as an explanation for why "price gouging" should be allowed, especially after a natural disaster. One reason I like it is that it sets up the question under the most dire circumstances: There's a natural disaster and a mother goes out to find a generator to run the refrigerator that keeps her daughter's insulin. She finds that the only generators available are now 3x the price. The best argument the video makes for allowing prices to rise freely as scarcity increases is that it allows people who need the item the most to stake their claim for it over people who need it the least. When a limited resource is under-priced (relative to its scarcity), it is only natural that consumers will use up every little bit of it so it will not be available at all to more people who need it the most. As the video points out, settting a low price ceiling on resource when it is limited means that people don't have to be stingy in using the resource. ...
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