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re: Price gouging laws predictably lead to shortages
Posted on 8/31/17 at 11:15 am to weagle99
Posted on 8/31/17 at 11:15 am to weagle99
As someone who took a good bit of economics courses, I can honestly say that I'm fairly against businesses being told what they have to charge. However, human nature in me wouldn't increase prices during a shortage unless I had to (suppliers raising prices for me). Also, there is a strong economic argument against raising prices because these places will almost certainly get destroyed publicly after the storm. Insurance almost certainly covers spoilage of items and possibly loss of revenue. Not worth it to raise in my opinion.
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