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Opening Arguments

What the traffic will bear

I hope Indiana officials don't get too worked up over price gouging on gasoline. The law of supply and demand can be flouted once in a while, but it can't be ignored in the long run, and market forces are better at sorting out what needs to be sorted out than anything the government can come up with. Since we're on the subject, I've never much understood the outrage over scalping, either. Scalpers make a profit by providing a valuable service to people making highly discretionary spending choices. And they take the same risk as other capitalists, investing in a product that the public might or might not really want to buy.

Posted in: Current Affairs