GOVEROTRAGEOUS: Managing a Disaster, by Walter E.Williams

in a disaster, we want people to economize their use of goods and services and we want suppliers of these goods and services to produce more. Rising prices encourage these actions. Anti-price gouging laws stymy those incentives and create the pretense that a disaster does not exist.

Source: Managing a Disaster, by Walter E.Williams | Creators Syndicate

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Once again, the various levels of Gooferment can’t “manage a disaster” by eliminating “price gouging”!

The higher prices force economical acquisition and encourage increase supply.  The more the “gouging” the greater the incentives.

I was at the grocery store today and there was no paper towels available at the $1.79 price as tagged on the shelf.  Now if the store had raised its price to $17.99, then I’d bet there would have been “plenty” there.

I read somewhere that Walmart was selling canned corn on a special sale for 50¢ per can and couldn’t keep the shelves stocked.  When they went back to the “normal” price of 79¢ per can, there was no problem.  Such was the price sensitivity. A 60% rise eliminated “hoarding”!

When will the politicians and bureaucrats ever learn?

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