Friday, September 8, 2017

Why Price Gouging Laws Are a Bad Idea (in one photo)

They say a picture is worth a thousand words.
For those who can't understand verbal explanations of why laws that prohibit "price gouging" are a really bad idea., try this picture.
Apparently the price of Aquafina wasn't high enough to motivate this woman to, say, fill up containers in her home with tap water. If the price could be doubled or tripled, even this lady might rethink that. As a result of laws prohibiting this sort of rational pricing behavior, the people who come into the store after her will be unable to buy bottles of water. But at least they'll be unable to buy them at regular prices. Right?

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