Author: Robert P. Murphy

As so often happens in the wake of a natural disaster, government officials in Texas are currently investigating claims of “price gouging,” which the office of the Attorney General reminds residents is illegal after the governor declares a disaster. This is a classic example of the ostensible contrast between greed and altruism, capitalism and charity. Economists who favor the free market know the standard arguments for letting the price skyrocket to “clear the market” when there are supply shortages and demand spikes. These are important arguments, and indeed I will review them below. At the same time, I think in our zeal to lecture … Continue reading →

The post I Love Price Gouging appeared first on LewRockwell.

One of the popular objections to the GOP proposals to reform health insurance markets is that the Affordable Care Act (aka “ObamaCare”) saved thousands of lives per year, and hence that tinkering with ObamaCare will literally kill lots of people. For example, Hillary Clinton tweeted out: Now to be sure, even if the claim were true, it still wouldn’t follow that coercive redistribution of wealth was morally justified. However, as happens so often in political controversies, libertarians don’t have to choose between property rights and preventing widespread suffering.  Believe it or not, the data suggest that if anything, ObamaCare actually caused more … Continue reading →

The post Did Obamacare Save Lives? appeared first on LewRockwell.