Two economists -- Raymond Niles and Amihai Glazer -- defend “price gouging” in emergencies (when sellers raise prices on important goods, like masks and hand sanitizer during COVID). Julia raises potential counterarguments.
Every time there’s an emergency, the prices of certain goods skyrocket -- like masks and hand sanitizer during COVID -- and the public gets angry about price gouging. In this episode, two economists (Raymond Niles and Amihai Glazer) make the case for why “price gouging” is actually a good thing, and Julia raises potential counterarguments.