An interesting look at free markets in the context of post-disaster situations, as a reflection on the system as a whole. As the author notes, the whole free market system is built upon trust — trust that the market/capitalistic system is fundamentally fair. Lacking that, people seek other mechanisms (helpful or not).
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Hurricane Sandy’s Lesson on Preserving Capitalism
With long gas lines and other shortages putting people on edge in the wake of Hurricane Sandy, the usual post-disaster debate over the economics and ethics of price-gouging is underway. However, whil…
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