Getting supply to where it is needed most. Some more words on price gouging, as New York and New Jersey are increasingly afflicted by gasoline shortages. There are three issues we need to look at here. One is allocation, one is short-term supply, and one is long-term supply. A lot of people seem to want to look at this purely as an allocative ... MOREMatthew Yglesias: Why Price Gouging Is Necessary
Getting supply to where it is needed most. Some more words on price gouging, as New York and New Jersey are increasingly afflicted by gasoline shortages. There are three issues we need to look at here. One is allocation, one is short-term supply, and one is long-term supply. A lot of people seem to want to look at this purely as an allocative ... MORE