💥Is free market just in disastrous situation?
(فارسی در کامنت)
The debate about price gouging that arose in the aftermath of Hurricane Charley raises hard questions of morality and law: Is it wrong for sellers of goods and services to take advantage of a natural disaster by charging whatever the market will bear? If so, what, if anything, should the law do about it? Should the state prohibit price gouging, even if doing so interferes with the freedom of buyers and sellers to make whatever deals they choose?
The standard case for unfettered markets rests on two claims—one about welfare, the other about freedom. First, markets promote the welfare of society as a whole by providing incentives for people to work hard supplying the goods that other people want. … Second, markets respect individual freedom; rather than impose a certain value on goods and services, markets let people choose for themselves what value to place on the things they exchange.
… the opponents of price-gouging laws … argue that the welfare of society as whole is not really served by the exorbitant prices charged in hard times. … this benefit has to be weighed against the burden such prices impose on
those least able to afford them.
Second, … under certain conditions, the free market is not truly free. … buyers under duress have no freedom. Their purchases of necessities like safe lodging are forced. If you’re fleeing a hurricane with your family, the exorbitant price you pay for gas or shelter is not really a voluntary exchange. It’s something closer to extortion.
But we also need to consider one further argument. … People are outraged at “vultures” who prey on the desperation of others and want them punished. … Outrage is the special kind of anger you feel when you believe that people are getting things they don’t deserve. Outrage of this kind is anger at injustice. … It gestures at a moral argument worth taking seriously.
📕 Sandel, M (2010). Justice; What’s the right thing to do?.MacMillan
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