Let us Praise the Hawaiian Price Gougers

This is another lesson in Economics 101. And one that the government should meddle in. I discussed this very topic last year in a video podcast. You may view it here. It’s in segment 2 which begins at about minute 19:25. Or you read my article regarding the same here.

from IBD:

‘Price Gouging’ In Hawaii Should Be Thanked, Not Cursed

Hawaii has taken a hit from Hurricane Lane, with an estimated 40 inches of rain and flooding in several areas. It’s an old story: Already, claims of price gouging for everything from propane to airline tickets have emerged. Should Hawaiians curse the gougers? No, they should thank them.

That might seem strange,¬†but it’s true.

First off, let’s concede there are no doubt businesses that are¬†technically breaking Hawaii’s anti-emergency gouging laws, which forbid stores from raising prices on food, water, ice, gasoline, cooking fuel, batteries and generators, chemicals or building materials during a declared disaster or emergency. read more