Price gouging defined

Pat Cleary takes a clear-headed look at the increase in gasoline prices. He argues that the causes of the increases we are experiencing are not mysterious, and that there is no need to posit “price-gouging” as an explanation.

But if we’re going to blame price-gouging, we’ll need a definition. My friend Craig Harrison offers this two-parter:

Price Gouging. Price Gouging is defined to be any profit made by a company in an industry that is defined to be a Suspect Industry.

Suspect Industry. Any company that is engaged in any energy activity, or any company or industry that is designated by any elected official of the Democratic Party to be a Suspect Industry by any public statement. Under no circumstances will trial lawyers, the health care industry, unions or the abortion industry be included within this category.

Responses

Books to read from Power Line