Episode 162: The Law of Demanding More Supplies
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What Is a Fair Transaction?
A New York City firefighter was acquitted of price gouging after he sold gas to Hurricane Sandy victims for 18 bucks a gallon. Michael Wolraich: What is a fair transaction? He says it's whatever two parties can agree to, as long as there's no coercion in the bargain. "If you didn't want the gas, well, don't buy it."
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