Post-Sandy: A Man-Made Disaster – George Reisman – Mises Daily

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EXCERPT…….

What caused the shortages and stops them from being overcome in this way is the fact that the necessary rise in prices is illegal. It is against the law. According to a Bloomberg news release of November 9, 2012, “New Jersey law defines price gouging as an ‘excessive price increase,’ or of 10 percent or more, during a declared state of emergency.” The same news article also reports that “New York law prohibits selling goods or services for an ‘unconscionably excessive price’ during ‘abnormal disruption of the market.’”