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LostInParadise's avatar

Is price gouging unethical?

Asked by LostInParadise (25380points) August 4th, 2010

After a disaster like a hurricane, it is common for those who sell necessities to raise their prices. It is easy to come down against these people,saying that they are making a bad situation worse. However, there is a defense for what they do. They can say that there is not enough to go around and that the price mechanism provides a way of adjusting supply and demand. In addition, high prices attract sellers from other places, helping to ease the crisis. I would not put the blame on sellers, but I would say that a policy of rationing would be a more equitable way of having the burden shared equally.

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