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The Myth of "Price Gouging"

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By: Alex Epstein There is no such thing as "price gouging" by private businesses. Many consumers are angry about alleged price gouging at the pump, and politicians are listening. States with anti-"price gouging" laws are investigating and prosecuting complaints, while Washington is discussing a federal anti-"price gouging" law. Senate Majority Leader Bill Frist promises that "if the facts warrant it, I will support a federal anti-price gouging law." But there are no facts that could warrant such a law, because there is no such thing as "price gouging" by private businesses....

http://ObjectivismOnline.com/blog/archives/000571.html

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