The Back Story 025 looks at the life saving nature of so-called “price gouging.”
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Which of the following is morally and economically preferable?
1) The person who owns something gets to decide whether to sell it, and how much to sell it for. Potential buyers get to decide if they want to buy it at that price.
2) If a person who owns something wants to sell it to someone else at a certain price, and that other person is willing to pay that price, a third party has the right to use violence to stop the trade from happening.
3) Someone has the right to decide for everyone else which of their stuff they are going to sell, and for how much.
Either have the balls to admit that you condone #2 and/or #3, or quit bitching about “price gouging.”Open This Content
Nobody asked but …
When I was a kid, we only saw Huricanes on newsreels at the movie house — always showing palm trees bent near double. Same for blizzards, droughts, and floods, except for the palm trees. After the fact, history subsumed into the parade of human affairs, they were shown in grainy black and white. Nothing to fear. Move along, folks. Now we get days of warning, graphics, and hyperbole. I have a friend on Daufuskie Island, in Georgia, who says the worst part is the waiting. I suspect the waiting would be tolerable without the handwringing and flatscreen teevees.
— Kilgore ForelleOpen This Content