Read the attached book chapter (Sandel (2009) Doing the Right Thing, Essay

Read the attached book chapter (Sandel (2009) Doing the Right Thing, Justice). its lone(prenominal) 3 pages - Essay ExampleEach of these ideas points to a different way of thinking about umpire. (Sandel 6) Advocates of price gauging laws promote the need of a third party (the government) to step in to ensure that praxiss much(prenominal) as these do not direcly effect the consumer in a negative way. However, those that argue for freer grocery stores such as Thomas Sowell merely state that such practice is a necessary action of a market that attempts to justify supply and demand in a crisis situation. In other words, these are prices that consumers are unforced to pay to suppliers so an equalibrium is met within the markets.This in effect boils down to a question of welfare versus freedom of the market/consumer and/or supplier. As such, arguments for regulating point to the concomitant that in times of a crisis or emergency there is no free market as individuals are forced t o consume necessities such as lodging, food, and fuel and are at the mercy of suppliers awho lord over them in an extortionary way. Furthermore, the brief preserve up grapples with the fact that our current economic system is dominated by greed accordingly, it attempts to juxtapose this fact with the claim that greed is not in and of itself evil yet too much greed is.What is of bear on to this particular author is the fact that from an free market economic standpoint it is rational to allow the practice of price gauging to take place as it is merely a represet democracy of dynamic supply and demand and the composite interplay between consumer and supplier with regards to what equilibrium they can agree to meet. However, when one realizes that the economic system under which our nation operates is quite a far cry from a true free market, the need for and positive benefits that regulation provide can only then be fully