As I record this episode in late March 2020, the world is living through the Coronavirus crisis. Recently my wife and I were discussing the toilet paper shortage. I explained that the reason there isn't any toilet paper now is because the stores did not raise the price when they saw a surge in demand. She argued that price gouging during a crisis is wrong and immoral. I tried to explain why it is actually a good thing. Full disclosure: She was not convinced. Hopefully you will be after listening.

We discuss some basic economic concepts like: What is a price and how do they fluctuate. Then we dive into the topic at hand - price gouging. This is followed by an examination of pandering politicians and price controls and the morality of price gouging. We wrap up the episode discussing the benefits of price gouging and whether or not these arguments hold up when a crisis is regional versus worldwide.

Show Notes

Bob Murphy - Hurricane Sandy and Gas Lines

John Stossel - Price Gouging

Walter E. Williams – Hillsdale College Speech

One or Two Cheers for Price Gougers; Three Cheers for Markets and No Cheers for Anti-Gouging Laws

Price Gouging Laws will do More Harm than Good During the Coronavirus Pandemic

A Primer on Price Gouging

Tom Woods Episode #987 - Price Gouging is Urgently Necessary

Words & Numbers Podcast - Price-Gouging Bans Don't Make Things Cheaper, They Make Them More Scarce.

Basic Economics, Thomas Sowell

Mises.org

• Anti-gouging Laws are the Reason There is a Toilet Paper Shortage
• 3 Good Things about “Price Gouging
• Price Gouging: A Life-Saving Market Mechanism

FEE.org

• Greedy Capitalists Take Advantage of People in Natural Disasters
• Texas Price Gougers are Hurricane Heroes

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Bernie Sanders has been leading the charge toward socialism his entire life. Within a few weeks of this podcast's publication (at the most a few months), Bernie will be a two-time loser of the Democratic Party's nomination to be President. Despite his failure to secure the nomination, he has laid the foundation for more radical candidates in the future. In this episode, we examine the life of Sanders and the foundation on which he has built his movement.

Show Notes:

Britannica.com - Bernie Sanders

Former Prisoner Recalls Sanders Saying I Don't Know What's So Wrong with Cuba

Bernie Sanders Praised Communist Cuba and the Soviet Union in the 1980s.

60 Minutes Interview with Bernie Sanders

Bernie Sanders Praising Bread Lines and Food Rationing

Why Bernie Sanders' Communist Misadventures Still Matter

Truth Quest Podcast Episodes:

• Episode #4 - The Truth About Minimum Wage
• Episode #8 – The Truth About Social Security
• Episode #9 - The Truth About Healthcare in America
• Episode #12 - The Truth About Socialized Medicine
• Episode #14 - The Truth About Obamacare
• Episode #17 - The Truth About Healthcare Reform
• Episode #31 - The Truth About Socialism - Part I
• Episode #32 - The Truth About Socialism - Part II
• Episode #39 - The Truth About the Student Loans and the Cost of College
• Episode #57 - The Truth About Free Stuff
• Episode #80 - The Truth About Democracies
• Episode #83 – The Truth About Capitalism

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If you follow the financial markets to any extent you have likely heard the term “negative interest rates.” In this episode, we are going to examine this never-before-in-history phenomenon. We are going to discuss the three ways this ridiculous financial policy manifests itself: on individuals, on bank reserves and on bonds and examine merits of this policy. Hint: It ain't good!

Show Notes

The Fed's Consideration of Negative Interest Rates Signals Its Rush Toward Irrelevance

The Non-Weirdness of Negative Interest Rates

UBS Starts Charging Rich Clients Negative 0.75% Interest Rate

Mises.org:

• Negative Interest Rates are the Price We Pay for De-Civilization
• Everything About Negative Interest Rates - Bob Murphy
• Why Negative Interest Rates Will Fail
• Rothbardian Take on Negative Interest Rates
• Why Sweden Ended Its Negative Interest Rate Experiment

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