Is Price Gouging Bad?

The video explores the controversial topic of price gouging during crises, highlighting public outrage and the contrasting views of economists. Economists argue that high prices can efficiently allocate scarce resources, discouraging hoarding and encouraging conservation. However, moral and societal judgments often condemn price gougers. The video discusses real-world examples, the role of reputation, and the balance between economic efficiency and moral considerations.

What are some potential negative consequences of price gouging as mentioned in the text?

How do societal judgments affect the behavior of sellers during crises?

What is the paradox presented by economists regarding price gouging and morality?