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Disaster Ignorance

Wehavemettheenemy Wrote: Nov 14, 2012 2:39 PM
It may be good publicity but it is bad economics. "Price Gouging" is what allows business owners to be able to bring in more goods on short notice through tough situations.
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...