Friends and Fans — I have retired from my work as a public intellectual, so Philosophy in Action is on indefinite hiatus. Please check out the voluminous archive of free podcasts, as well as the premium audio content still available for sale. My two books — Responsibility & Luck: A Defense of Praise and Blame and Explore Atlas Shrugged — are available for purchase too. Best wishes! — Diana Brickell (Hsieh)

Price Gouging

  • Q&A: The Morality of Price Gouging: 12 Jan 2014, Question 3
  • Question: Is it morally wrong to profit from someone else's distress? People often decry "taking advantage" of other people as cruel and wrong. For example, suppose that a person desperately needs water after a hurricane or other natural disaster. I charge him $1000 for a gallon jug, knowing that he can pay that much if he's really that desperate. Is such price gouging immoral? Is it fundamentally different from other kinds of trade – or just different in degree? Is it morally wrong to profit so handsomely by the distress and scanty options of other people in this way?

    Tags: Benevolence, Capitalism, Economics, Ethics, Justice, Law, Price Gouging

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