The Economics of a Storm by Catherine Jaime
Series: Economics Simply Put.
Approx. 1,050 words.
Published on November 3, 2012.
What happens when a major storm barrels through an area? In addition to the tragedy of loss of life and loss of property that accompanies so many of these storms, we also see shortages and cries of price gauging.
In this short work on the topic, Catherine lays out her argument for why price gauging is not evil, and that artificially maintaining low prices in a crisis situation is not virtuous.