In other words, there is no such thing as "price gouging," so long as economic transactions are voluntary. Sellers can set the price of their goods as high as they wish, but they can not force anyone to buy. Unless, of course, the Supreme Court rules that citizens can be forced to purchase a product at the government's behest.
Here's a which-is-better question for you. Suppose a New Jersey motel room rented for $125 a night prior to Hurricane Sandy's devastation. When the hurricane hits, a husband, wife and their two youngsters might seek the comfort of renting two adjoining rooms. However, when they arrive at the motel, they find that rooms now rent for $250. At that price, they might decide to make do with one room. In my book, that would be wonderful. That decision would make a room available for another family who had to evacuate Sandy's wrath. New Jersey Gov. Chris Christie and others condemn this...
- Quotes of the day Allahpundit 8 hours ago
- Teamsters appeal to “Top Chef” for employment by threatening to bash in Padma Lakshmi’s face Mary Katharine Ham 8 hours ago
- Rick Perry: It’s entirely possible that ISIS has already crossed the southern border Allahpundit 9 hours ago
- “Today is a miraculous day”: Dr. Kent Brantly speaks after recovering from Ebola Allahpundit 10 hours ago
- YouGov poll: Most Americans, and most Democrats, do not wish Hillary had won in 2008 Allahpundit 11 hours ago
- Report: Obama’s Bergdahl swap violated the law Noah Rothman 11 hours ago