<center>https://cdn.pixabay.com/photo/2018/12/10/21/09/store-3867742_960_720.jpg</center> After getting hundreds of complaints about price gouging in Connecticut, state officials there have recently announced a new legislative effort to try and [tackle the problem](https://www.courant.com/news/connecticut/hc-news-ag-tong-price-gouging-legislation-20210127-zvzolcvtt5eytb6gb3lmsxpq7i-story.html). Businesses are already prohibited in the state from price-gouging, they cannot look to excessively raise of their prices on goods in advance of any sort of imminent market disruption like COVID-19. But still, people say they are seeing unreasonable prices for things like eggs, toilet paper, and hand sanitizer and over 700 complaints have been made for this issue to the state. According to lawmakers, they say they need better legislative tools to stop this problem. > โOur price gouging law is limited and really only gives us the immediate opportunity to go after the first link in the chain, the retailer,... We donโt yet have the authority to go up the chain.โ - [CT AG Tong](https://www.courant.com/news/connecticut/hc-news-ag-tong-price-gouging-legislation-20210127-zvzolcvtt5eytb6gb3lmsxpq7i-story.html) ## If they get the new changes passed then that would give authorities more power to go after not only retailers, but also [manufacturers and wholesalers too](https://www.courant.com/news/connecticut/hc-news-ag-tong-price-gouging-legislation-20210127-zvzolcvtt5eytb6gb3lmsxpq7i-story.html). <center>https://cdn.pixabay.com/photo/2015/07/23/06/11/building-856444_960_720.jpg</center> The price gouging issue is a controversial one for many, despite [being closely](https://reason.com/2017/09/06/laws-against-gouging-are-simplistic-and/) tied to [supply and demand](https://reason.com/2020/03/18/why-price-gouging-laws-are-a-bad-idea/). For this reason it is possible that those anti-price gouging restrictions can have negative and unintended consequences. ## The United States Chamber of Commerce previously determined that these anti-gouging rules might end up hurting individuals more than helping them in times of need. <center></center>That is because the artificial interference in the market that is coming from government can easily make prices and the supply situation worse, not better. This is because anti-gouging laws are known to possibly fuel [more hoarding](https://hbr.org/2013/07/the-problem-with-price-gouging-laws) and it might discourage businesses from looking to boost their supply which would further help to ease the problem of a shortage. Through their investigations in CT they found that often retailers themselves would be making reports of the high prices they were required to pay for obtaining different items. The state officials would look to place pressure on wholesalers but this had little effect and now they want more power to have that impact. They will be holding a public hearing on that bill this week and it is expected to receive bipartisan support, as they're painting this as a measure to keep families safe and suggesting that this new power will help businesses, hospitals, and frontline workers, making sure they get the supplies they need. However, it just might end up giving the state the power to *make things worse* by fueling those unintended consequences in the market when they seek to interfere. Pics: pixabay
| author | doitvoluntarily |
|---|---|
| permlink | connecticut-officials-look-to-go-after-price-gouging-at-higher-levels |
| category | leofinance |
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price controls never work. Haven't officials learned this? It's like learning that communism leads to the govern-cement killing many people. It has every time before. ... but officials either think, "this time fer sure!" (or maybe they really are evil and hate humanity)
| author | builderofcastles |
|---|---|
| permlink | qnmngi |
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I don't understand why Connecticut loves being so backwards... I used to live over there and I'm totally glad I left. Connecticut is getting worse while all the wealth remains in Downtown Hartford and West Hartford. The ghetto continues getting worse. Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@esecholito/re-doitvoluntarily-4cquw9)
| author | esecholito |
|---|---|
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statism will getchu.. no matter where you move to :)
| author | doitvoluntarily |
|---|---|
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It is certainly not popular, and many people think it heartless. I think price "gouging" is needed in times of supply shortage to realistically shore up supply and cool demand. Look at toiletpaper during early COVID. I guarantee you wherever the price increased significantly, that people found a way to get by with less. Rising prices have a way of clarifying your "needs" :-) Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@steemstreems/re-doitvoluntarily-4a8oss)
| author | steemstreems |
|---|---|
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hiveblocks