“A lot of people suppose that the anti-gouging laws are a remnant of some puritan past, like laws that ban buying alcohol on Sundays. But they aren’t. The first one was passed in New York in 1979 in response to rising heating oil prices, according to an essay on the laws by Michael Gibberson published in Regulation last year. Three more states adopted similar laws in the 1980s, eleven more in the 1990s, and 16 in the last decade. These aren’t ancient blue laws—they are a growing legal innovation. Again you’re probably asking: why? As it turns out there is one set of actors who does benefit from these laws—politicians.”
