Ripped from the headlines!
AP – What is ‘price gouging’ and why is VP Harris proposing to ban it?
The Week – How will Kamala Harris’ ban on grocery price gouging work?
How about a quick inquiry to kick of the school year on a hot button topic that trending this week.
Is price-gouging a problem?
An inquiry on this question is an opportunity to talk with students about a key economic issue this fall, namely the role of the federal government in the economy. There appear to be sharpe differences between the political parties on this issue.
It’s been a while since the differences between our political parties were this stark.
We probably have to go back to the 70s. But, as the Reagan era unfolded and Bill Clinton became a neo-liberal the end of difference was upon us. There is very little space between A few takes on those similarities.
- Party Differences in Macroeconomic Policies and Outcomes – This paper discusses how both parties’ macroeconomic policies have long-run similarities, though outcomes may differ due to other external shocks and variables (Chappell & Keech, 1986).
- The Transformation of the Republican and Democratic Party Coalitions in the U.S. – This study explores how both parties are pro-business and how shifts in social issues have made their economic policies somewhat interchangeable at times (Miller & Schofield, 2008).
- An Analysis of the Convergence of the Economic Policies from the two Parties in the Post-war United States – Despite ideological differences, both parties often converge on key macroeconomic issues, attributed to shared democratic values and the realities of governance (Li, 2004).
Another interesting take on this topic are the differences on display between economic policies expert opinions and popular beliefs on price gouging.
Back to the inquiry 🙂 Here’s a sketch.
Compelling Question
- Is price-gouging a problem?
Supporting Questions:
- What are the arguments for and against anti-price-gouging policies?
- How do economists’ views on market interventions differ from those of the general public?
- What role do moral considerations play in economic decision-making?
Formative Performance Tasks:
- Task 1 – Analyze the rationale behind anti-price-gouging policies. Examine specific examples, such as natural disasters.
- Task 2 – Compare and contrast economists’ perspectives on market interventions with popular public opinion.
- Task 3 – Discuss the implications of integrating moral reasoning into economic policies.
Sources
- Task 1 – Price Gouging Laws by State
- Task 2 – Benefits and Drawbacks of Price Gouging
- Task 3 – The Two Moralities of Outlawing Price Gouging
Summative Performance Task:
- Students engage in a debate where they defend or oppose the prioritization of expert economic opinions over popular beliefs in shaping policies, using evidence from the supporting questions.
