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Wednesday, September 07, 2005

In praise of price gouging

John Stossel defends price gouging. Interesting stuff I think that there are balances that we can enforce, but his broad point is correct that when some thing is limited it may well be beneficial to have higher prices on it. This partially helps ensure that the people who need it the most will be able to purchase it. Of course the other side, is that their are poor people who will simply not be able to purchase the needed comodity at the higher price, no matter how severe their need. How to help them, without destroying the greater good, is as complex and difficult in times of disaster as it is at any other time, perhaps more so. Bottom line is poverty kills every day, and it kills quicker and faster when resources are scarce. Adding wealth it our best defense against all sorts of disasters. (via Of the Mind)


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