478-The Utility and Morality of Price Gouging

Whenever there's a natural disaster, we have various articles on price gouging's lamentability, to wit, its harmfulness and illegality. But, is it really bad? I say not. "Price gouging" (or, more accurately stated, the adjustment of market prices to meet changing demand) has tremendous utility for the well-being of all involved and is absolutely upright, moral, and ethical. Of course, this guy says it's wrong, morally and economically. I deal with his "arguments" in the show. Joshua