Earlier quoted context omitted.
Price "gouging" is actually a public service, it LITERALLY SAVES LIVES. It ensures that needed materials find their way to the people that need them the most. Seriously? The lower income people living on Staten Island during Sandy would like a word with you. Price gouging ensures that things are only available to people with excess income to absorb the gouged price. The whole point about price gouging during Sandy is…
If every store tripled the price of bottled water you would have truckloads of water arriving within 24 hours with absolutely no government intervention at all. It would also mean that smart entrepreneurs would pre-stage needed supplies in anticipation of the price increase. With strong 'gouging' laws, there is no incentive to spend money on preparing the supply chain or in spending more money to overcome supply diff…
In post hurricane road conditions? You don't live in New York, do you?
If the price of water tripled, a decent section of the population would struggle to afford it. That is the start and end of that debate, as far as I am concerned. I believe in the free market up until it starts starving people.