| | "So, Locke's argument actually cuts two ways. Not only is it not immoral to charge the market price when the market price is high because of the local circumstances of time and place, it's actually immoral to charge a low price. So, price gouging laws force gas station owners to do something immoral. Which is to encourage people to take too much and not leave gas for other people behind them in line who desperately need it" (Munger on John Locke, Prices, and Hurricane Sandy; link).
Then there's the guy who is rarely a gasoline seller but buys gas from the gas station being watched for gouging and then goes elsewhere to sell it for a higher price.
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