You can view an online video or a transcript of Andrew Bernstein (author of the Capitalist Mainfesto) on the Abrams Report on the moral and practical reasons against price controls on gasoline during an emergency (Hat Tip: Jim Woods).

“One is the moral point and that is if somebody owns property that I don’t own, they have a right to ask any price for what they want just as I have the right to refuse that price.  Also, the practical point is that on a free market when the price rises, what that does is enables the producer to make more profit giving them more motivation… to increase the supply.”–Andrew Bernstein

Also worth reading: “Price Gouging” in Florida by Thomas Sowell which talks about why prices should rise during hurricanes if the market demands it.

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