Episode 84: Price-Gouging Bans Don’t Make Things Cheaper, They Make Them More Scarce
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The Importance of Anti Price Gouging Laws
We can feel good about ourselves by passing anti price gouging laws. And we say to the shop owner, you paid a buck for the bottle of water. You may not sell it for more than a buck 50 and we pat ourselves on the back that we've made water available to the poor people who couldn't afford it. The thing you've done that's bad is that that's the last water they will see. But there's no one incentive up that disrupted supply chain to bring replacement water in.
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