On my regular commentators, Andrew, would like to add his thought to my previous post, “Law Prohibiting Price Gouging In Oklahoma (via 40/29 tv.com).”
Here’s a hypothetical situation. If Company “A” and Company “B” are both hardware stores in the same town when an emergency hits. Company “A” is owned by an unethical man who ratchets up his prices to make a buck off of the emergency. Company “B” is owned by an ethical man who keeps his prices steady (perhaps out of a sense of duty to his community, who knows). Now say I am a resident of this town. In the aftermath of this emergency, if I hear that Company B’s prices are lower than Company A’s, then I will prefer to do business with Company B. Thus, ideally, ethics will win out over greed.
This hypothetical only applies to situations where healthy competition is established in each market. If you live in a small town where there is only one hardware store or one grocery store, then the residents are at the mercy of the store owner.
So it seems that this law will definitely help out the small town folks, and I see nothing wrong with it at all.