Price gouging is generally defined as sellers taking advantage of market power or temporary supply/demand imbalances to raise prices to levels that otherwise wouldn’t prevail. And food prices did rise significantly in 2021 and 2022, leading to suspicion of food retailers. But might there be reasons for the price increases other than a malevolent decision to gouge on the part of sellers? Here are a few possibilities…”

*Shall We Repeal the Laws of Economics?*

By Howard Marks

https://www.oaktreecapital.com/insights/memo/shall-we-repeal-the-laws-of-economics