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Features Australia

Aux biens pensants

Price gouging & the bottomless bikini

17 February 2024

9:00 AM

17 February 2024

9:00 AM

Only the naive can doubt, and hired guns pretend, that monopolists (including oligopolists) will, if allowed, engage in price gouging.

There is no need for an inquiry to establish that. Like the scorpion in the fable about the frog, price gouging is in their nature.

My principal recollection of high school, and indeed university economics, is in how price is determined by the market when competition prevails.

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