John Locke Update / Impact Newsletter

Gouging For Rooms and Vrooms

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North Carolina seems to have caught a whiff of the price gouging scare that has trickled down from Congress.  Thanks in part to the State Attorney General’s actions,
some citizens across the state are turning against “Big Oil,” claiming
that the high price of gas is a result of greedy oil producers. 
But as Jon Sanders points out, it’s all bunk.  Supply and demand drive prices.  And the fear of gouging doesn’t end with gas.  Daren Bakst, in the Greensboro News & Record,
commenting on the accusation of price gouging of hotel rooms at the
Furniture Market in High Point, said that “any price-gouging law should
be called by its proper name: price controls.”  

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