Life. Liberty. Property.

On Mises today, I just read probably the most compelling argument against so-called “price-gouging” laws. You can check it out here.

Westley initially brings up the same econo-libertarian arguments that many in-the-know have brought up previously, and he says, look, “[these laws]promote the use of resources in ways that are wasteful. They allow politicians to score points on the economic illiteracy of the masses. In the midst of a disaster situation, they cause shortages, slow the recovery process, and extend suffering.“.

Now, I couldn’t agree more with those statements, but the hear of the matter is a classic libertarian property rights issue. You could, as Westley puts it, “[stack] it up in one-gallon cans, placed a table cloth over it, and had a picnic.” It’s your goddamn gasoline. And any regulation thereof represents an adverse claim to your legal title thereto.

Check it out. Good, quick read.