Gas Gouging!
Great video. There's nothing complicated here. We prevent markets from working, by restricting price. And then we blame markets for failing, because at that price there's a shortage. Amazing.
Labels: prices change everything, reason tv
posted by Mungowitz @ 11/03/2012 11:46:00 AM
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They've imposed purchase limits in my parents' area in New York. My brother got them a generator, but now they have to decide between gas for the generator vs. the car.
But having a purchase limit also gives you an incentive to buy up to the limit whether or not you need it *now*, just in case you don't have it later, which makes the shortage even worse.
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