As a criminal offense, Florida's "state of emergency" law is an example. Price gouging may be charged when a supplier of essential goods or services sharply raises the prices asked in anticipation of or during a civil emergency, or when it cancels or dishonors contracts in order to take advantage of an increase in prices related to such an emergency. The model case is a retailer who increases the price of existing stocks of milk and bread when a hurricane is imminent.
In Florida, it is a defense to show that the price increase mostly reflects increased costs, such as running an emergency generator, or hazard pay for workers, while California places a ten percent cap on any increases.
Many libertarian economists oppose price gouging legislation and argue that it prevents goods from going to individuals who value them the most and not just to those with the greatest wealth. For example, after a storm has felled numerous trees in a locality, advocates of this theory claim that a rise in the price of chain saws will discourage their purchase by people with only a minor need for them, making them more available for those with the strongest need, rather than the most wealth. Problems during the Siege of Paris (1870–1871), which critics attribute to price restrictions, are often held up as another example. With price gouging laws in place, producers are only able to charge a price set by law, and therefore have little additional incentive to increase supply to adversely impacted areas. If producers are able to make extra profit, these theorists argue, then they will increase the supply. It is claimed that these laws lead to after-market operations as consumers with the lowest opportunity costs buy up desired resources and attempt to resell them to public at higher prices.
People don't want to die? Ooooh better take advantage of their actual fear of death. This is common for my country to be honest. On 8th of March (women's day) all the flowers suddenly get super expensive, eggs get expensive on Easter and sweets in Christmas. But still this company takes the cake, congrats to them, they're officially more greedy and corrupt than Eastern European companies.
We are definately in agreement on this one. :)
I was chatting with someone who has boarded up and is getting out of southern Florida today.This is ridiculous.Talk about taking advantage.Shameful.