> There is no such thing as “price gouging”. It is an invention of the left. There is only supply and demand. <
Ah, yes. But here’s a hypothetical for you. Mr. Smith’s child climbs a tree, and falls, breaking his arm. The child is in great pain. Mr. Smith rushes his child to the nearest hospital.
“Well”, sez the doctor on duty. “We are the only hospital around. The next one is three hours away. And it might be closed. I can give your child something for his pain, and set his arm. But it will cost you $100,000.”
Supply and demand.
Or should regulations be in place to prevent this?
As an aside: Both the water story and my hypothetical are emergency situations. Not immediate life-and-death, but emergency situations. We are not talking a run on I-phones, or anything like that.
That would hardly ever happen because insurance would cover it.
In a free market insurance would be cheap and everyone who wanted it would have it.
What would Mr. Smith do if there was no hospital there?