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Jeremy Blumka

Document Type

Restricted CORE Hall of Fame Paper

Publication Date



[Excerpt] It is vital to protect the American consumer by fairly assessing the morality of price gouging and the regulations imposed to prevent it. Regulations on businesses have a drastic impact on the quality of life in American societies. In the long term, consumers are better off relying on the free market to correct economies in times of crisis, as regulations can lead to lasting consequences. This analysis assumes the position that vendors within the American free-market have the right to sell their products without interference, unless their practices are unfair. This paper seeks to advance the discussion on price gouging regulations by asserting that these ‘protections’ ultimately harm both the consumer and vendor. By understanding what price gouging is, we are better equipped to analyze the injustice of the current regulations imposed on the American private sector. Since price gouging regulations are difficult to define and enforce, they often unfairly restrict mutually beneficial trade between the vendor and consumer