RE: “Higher prices increase supply faster and they also keep people from taking more than they need. The market acts as an efficient allocation of resources.”
Yeah, this worked so well in affordable rental unit housing and .22 lr availability / profiteering.
I’ve got an MBA and did well in Micro-Macro economics theory.
A common societal moral mentality is far better first step than excusing away craven opportunitists because of “the invisible hand of the market” voodoo.
It should be unthinkable to screw others in a time of emergency.
However, we our culture is morally atomized, so good luck with relying on expecting a shared sense decency to govern actions during shortage crisis.
What people ought to do is not always the same as what should be legal or illegal. If someone wants to charge a higher price, then that is a calculated risk they take due to the bad publicity. Americans are a generous lot, and most business people fall all over themselves trying to show how charitable they are.