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...
- Yemen’s capital under near total control of Shiite rebels following bloody offensive Noah Rothman 41 mins ago
- US hits Khorasan group in air strikes on Syria Ed Morrissey 1 hour ago
- Quotes of the day Allahpundit 10 hours ago
- Breaking: Pentagon reports first airstrikes in Syria; Update: Coalition Arab countries added Mary Katharine Ham 11 hours ago
- Issa: Americans deserve to hear from Lerner under oath, not in the press Mary Katharine Ham 12 hours ago
- Poll: Plurality now think businesses that provide wedding services should be required to serve gay weddings too Allahpundit 12 hours ago