February 19, 2021 ☼ economy ☼ texas ☼ power-failure ☼ price-gouging ☼ capitalism
Source: NPR - Link
Texas officials are cracking down on businesses they say have hiked the prices of food, water, and hotel rooms while the state continues to deal with shortages caused by unprecedented winter weather.
Harris County Attorney Christian Menefee, the chief civil attorney for Texas’ largest county, and Linda Hidalgo, the Harris County Judge, said Houston area residents have complained of hotel rooms and bottled water being sold at exorbitant prices.
Price gouging is a natural capitalist response to overwhelming demand and short supply. It will end soon enough. The gougers are likely to go unpunished.