The 9-12 Project of Central PA

"You Are NOT Alone!"

John Stossel: In praise of 'price gouging'

By John Stossel        Published November 01, 2012        FoxNews.com

Desperate New Jersey drivers wait in long lines to buy gasoline. One line was two miles long.

The media blame “a lack of electricity” and report that “Governor Christie has acted to boost supplies of gasoline…by directing Treasury officials to waive licensing requirements that affect merchants’ ability to buy fuel from out-of-state suppliers.”

That would help, but Christie would help more if he could suspend New Jersey’s foolish law forbidding price increases of more than 10% during an “emergency,” and if he’d apologize for bragging that the state will crack down on price “gouging!” 

Complaining about greedy profiteers is probably politically smart. But if you're one of the people the law "protects," you won't fare as well.

... 

Read more: http://www.foxnews.com/opinion/2012/11/01/in-praise-price-gouging/

 

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