Monday, July 11, 2005

Recognizing private property rights,

The whole sham labeled "price gouging" isn't about price or cost at all. It's about recognizing private property rights. If you own a gas station, then you have the right to charge your customers whatever you wish. After all it is your station! If you charge $50 a gallon, then you will not do any business and be forced to lower your price. In the wake of a natural disaster such as the recent hurricane Dennis, gasoline becomes more scarce and therefore more valuable. Hence the higher prices of gas in areas hardest hit by Dennis. The anti-"price gouging" crowd are simply Socialists in sheeps' clothing.