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Should Prices Rise During Crises Like Hurricane Harvey?

Prices should rise during emergencies. Price changes save lives. That’s because prices aren’t just money—they are information.

Economy and Finance

Should Prices Rise During Crises Like Hurricane Harvey?



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Texas Attorney General Ken Paxton is upset about “price gouging” during hurricane Harvey. Some stores raised prices to $99 for a case of bottled water—$5 for a gallon of gas. “These are things you can’t do in Texas,” he says. “There are significant penalties if you price gouge in a crisis like this.”

There sure are: $20,000 per “gouge”—$200,000 if the “victim” is a senior citizen.

Texas, a state that I thought understood capitalism, punishes people who practice it.

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