GMU Econ alum Mark Steckbeck applauds so-called “price gougers.” A slice:
Not only does the higher price of water deter greedy people from indiscriminately hoarding what limited supply of water is currently available in that immediate area, it creates the incentive for people in places like Austin, Dallas, Norman, Oklahoma, and Little Rock, Arkansas to shift supplies of water from those areas where it is plentiful, to the Gulf coast areas of Texas where it is desperately needed. Without the reward from charging higher prices, most won’t do it.
I’m honored that Mark Perry fashioned one of my recent blog posts into a Venn diagram.
No one of good sense can fail to be worried about North Korea’s development of nuclear weapons and of missiles to deliver these weapons far and wide. George Will writes on this matter with good sense.
Jim Bovard explains how government subsidies increased the damage done by hurricane Harvey. (The same is likely to be true of hurricane Irma.)
My Mercatus Center colleague Dan Griswold continues with his monthly assessment of the Trump economy.
