We really are being charged more than we used to be. If the government is concerned about price gouging, it could try this bold idea: offering its own low-cost bank loans.
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Articles on Price gouging
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Woolworths promoted itself as a place where “goods are so cheap and shopping easy and pleasant” when it opened 100 years ago. Australia’s biggest grocer has moved away from its humble beginnings.
Each of these tricks is old, but each has been supercharged by the use of information technology.
Australians are being overcharged by supermarkets, power, transport and other service providers, according to a report which has called for government action to protect consumers.
The COVID pandemic, climate events and international conflicts have all contributed, while supermarket giants have been accused of price gouging.
Why wait until a Senate inquiry to explain how supermarkets come up with the prices in their stores? There’s an opportunity now for the big supermarkets to be more transparent on pricing.
Some economists have defended price gouging, saying it helps increase supply and prevent against hoarding. An ethicist suggests this might be missing the point.
Some Texans are receiving eye-popping electric bills after power providers passed on volatile costs to some of their customers – legally.
Top contributors
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Associate Professor, UTS Business School, University of Technology Sydney
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Professor of Philosophy, Rice University
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Research Fellow, Deakin University
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Co-Director, Global Centre for Preventive Health and Nutrition, Deakin University
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Senior Lecturer in Applied Ethics & CyberSecurity, Griffith University
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Lecturer, School of the Arts and Media, UNSW Sydney
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Professor of Energy and Environmental Economics and International Affairs, Penn State
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Visiting Fellow, Crawford School of Public Policy, Australian National University
