4min chapter

Rationally Speaking Podcast cover image

"Price gouging" in emergencies

Rationally Speaking Podcast

CHAPTER

The Arguments for or Against Price Controls for Non Emergency

In general, we want the people who most value a good to get it. But some goods involve externalities that when i consume the good, it benefits me, but it so benefits others. The big benefit of a mask is it protects you for my breathing on you and infecting you. And even less do we take into account when the people that we may infect are total strangers. Maybe we should give al vaccines and masks in bors - they're unlikely to get very ill, but they're infecting lots of other t right? Right? And the market doesn't work well when it when dealing with externalities. Some form of price controls can work better for these goods than having

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