, particularly targeting the food and grocery industries, has been making headlines and sparking concern among economists.
During a recent rally, Harris talked about the continued high costs of food, but instead of attributing the prices to inflation, she blamed food companies and groceries engaged in price gouging. States throughout the country already have price gouging bans in place that are set off during states of emergency or natural disasters.but the price gouging ban has become a focal point of criticism from economists and political opponents alike.who researched anti-price gouging laws during the COVID-19 pandemic, a price gouging ban might not actually lower prices. Roberts found that nationwide price gouging bans could potentially stifle competition and inadvertently keep prices high.
, any policy that grants the government the power to determine what constitutes a "fair" or "unfair" price is effectively price control, regardless of how it is labeled. “When bureaucrats, not markets, determine acceptable prices, we’re dealing with price controls,” he said. Price controls date as far back as ancient Egypt, Greece, and Rome. During the American Revolution, colonial governments even set caps on prices for essential supplies for George Washington’s army. More recently, the U.S. imposed price controls during major crises like World War II and the 1970s energy crisis. However, these measures often led to long-term market disruptions and shortages.