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Walter Williams: Price Gouging During a Natural Disaster

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Walter E. Williams

By Walter E. Williams | cnsnews

(Photo by Joe Raedle/Getty Images)

Thirteen states — Alabama, Arkansas, Florida, Georgia, Indiana, Louisiana, Mississippi, New York, North Carolina, South Carolina, Tennessee, Virginia and West Virginia — have enacted laws to combat what is seen as price gouging in the wake of natural disasters. Price gouging is legally defined as charging 10 to 25 percent more for something than you charged for it during the month before an emergency. Sellers convicted of price gouging face prison terms and fines.

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