Recent super storm, Hurricane Sandy, left more than eight million people without power and an estimated $50 million dollars in damages. As most struggle to put their lives back together, others are charging outrageous prices for necessities. In fact, there were more than six hundred reports of price gouging that occurred after the storm. You wouldn’t be alone in thinking this is wrong and should be illegal. What might surprise you, however, is this infographic from Best Criminal Justice that sheds new light on price gouging. According to many economists, price gouging is necessary to encourage conservation and prevent shortages. Check it out below and see if it changes the way you think about paying extra for the things you need during an emergency.
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