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Price Gouging Blues

by The Bull and the Bear

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about

Famously, in a landmark 1964 US Supreme Court obscenity case, Justice Potter Stewart avoided the question of clearly defining “obscenity” by stating: “I know it when I see it.” The same can be said about the difficulty in defining price gouging.

lyrics

No one likes paying high prices
Or seeing goods off the shelf
But when a price increase becomes gouging
You better ask yourself

The Feds throw up their hands
The states can’t agree
When to intervene or when to call
A price hike “gross disparity”

Like Stewart said I know it when I see it
Maybe that’s all we can say
Keep your eye on the horizon
And things will go your way

Let’s get back to basic economics
High price means insufficient supply
It’s signaling a preferable deployment of scarce resources
So other folks can give it a try

But that concept breaks down
With patents and production demands
And what constitutes a fair price increase is subjective
To every child, woman, and man

Like Stewart said I know it when I see it
Maybe that’s all we can say
Keep your eye on the horizon
And things will go your way

Opportunists will scam
But incentives drive platforms to police
And any businesses that want to live to see tomorrow
Should keep their fans from feeling fleeced

So you can hoard sanitizer
Become the next Pharma Bro
But you’re risking seizure, prison, fines, becoming a pariah
With value, you reap what you sow

Like Stewart said I know it when I see it
Maybe that’s all we can say
Keep your eye on the horizon
And things will go your way

credits

released June 15, 2020
Lyrics and music by Kyle Thompson-Westra

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all rights reserved

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The Bull and the Bear Golden, Colorado

The Bull and the Bear is a collaboration based on a penchant for sweet tunes and economic metaphor.

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