COVID-19 Day 2: Sure Price Gouging is Bad but Hoarding is Worse

Read the NYT article here:

My first reaction to reading about a Price Gouger was outrage. But then I thought: why is it worse for one asshole to amass 17,700 bottles and sell them, than leaving them in the stores so that 177 Panic Buyers can grab 100 bottles? At least the Gougers goal is to sell their inventory. The hoarders goal is to not let anybody else have it. This practical truth is outlined in this article from the Foundation for Economic Education

By the way, COVID-19 is an airborne virus and rarely transmitted by touch. So the media and public preoccupation with hand sanitizers is somewhat irrational. And so is panic buying. 


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