This is a three-part assignment.
The first part is for you to watch a video clip about price gouging produced by Mr. John Stossel and answer a controversial question “Is price gouging evil, especially during a state of emergency?”.
This video focusing on price gouging after Hurricane Katrina, a Mississippi law against price gouging is in stark contrast with prominent economists arguing that price gouging is good.
After natural disasters, some businesses raise prices. Some people buy several generators, and then drive hundreds of miles and sell those generators for twice the price.
Is this action of raising the price for a generator evil in your opinion? How about whether it is logical?
Economics in the Media: John Stossel (John Frank Stossel is an American consumer television personality, author, and libertarian pundit. In October 2009, Stossel left his long-time employment at ABC News to join the Fox Business Channel and Fox News Channel. He left Fox in December 2016. He has joined Reason Magazine (Reason.com) since 2017 has his own online media show on Reason.com called “Stossel on Reason.” (source: https://reason.com/stossel/
The second part of the assignment is for you to respond to the questions addressed in the first part. You are to use media recording to submit your answers on Canvas (voice file uploaded on Canvas). You can also use voice-over-Power Point if you choose to attach a ppt file.
State your opinion clearly with supporting arguments. Use the concept learned in this module to support your answer. Please submit your recording here
In the third part after you submit the media recording responses, please provide your opinion by writing up your response and post on the discussion forum.