He stated the subject had not been discussed much by economists and then went on to a mistaken assumption:
“Charges of “price gouging” usually arise when prices are significantly higher than what people have been used to. Florida’s laws in fact make it illegal to charge much more during an emergency than the average price over some previous 30-day period.”
Price gouging is determined by the profit margin increasing before and after the storm and it has to be done in a court. It’s exact. Either you are taking advantage of people in a disaster or you are not.
You pinged me stating that you never heard Sowell lecture about the benefits of gouging as if his opinion meant something to you(claiming you read his books) . But apparently it was just a bluff by you and you don't care and don't understand what he is saying; based on that response to his editorial on the subject.
Sowell completely destroys the argument for anti-gouging laws. Its not about fairness, we let sellers make money because that works the best for buyers in the long run.
NOW Read it and then explain why Sowell is wrong when he says these laws are bad for us, if you really disagree.