Discussion Question

In: Business and Management

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Discussion Question:
For this week's discussion, choose a section of the readings and find an article (media, blog, etc) that is related. In your post, relate it to the topic you choose and note what you find interesting. There is quite a bit of flex in what you choose...but the more interesting, the better. Give a summary of what is going on in the article and how it ties in/teaches us something related to this week's materials.
This week I found the section of the reading on price gouging the most interesting. The section on price gouging is located in chapter 2 on page 19. Although the section was brief it caught my attention and I wanted to look into it a little more. During my research I came across an article titled “Price Gouging Laws Hurt storm Victims.” In the article the author talks about how the Government creating anti price gouging laws actually hurts the victims of the natural disaster. According to the article, price control create shortages, this happens when the price isn’t allowed to rise to coordinate the wants of buyers with the wants of sellers and as a result shortages occur. The government doesn’t realize that by passing anti-price gouging laws that they believe are helping the victims of natural disasters they are in fact hurting them by preventing them from being able to purchase supplies they need during a crisis.
I found this article to be very interesting because the book talks about price gouging in a negative way and how it is a form of price control that the government imposes to protect the economy and promote economic efficiency. The article I chose does not support the stance that the book does. I do not necessarily agree with the article but every topic has two sides and I thought it would be interesting to read about the other side. The book presents the argument for anti-gouging laws that protect victims from being taken…...

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