Essays on Gouging

On August 30, 2016, Laura Dimon and Ginger Adams Otis wrote an article for The Daily News under the headline “Protesters gather in NYC to show outrage of skyrocketing EpiPen prices.” The article highlights a controversy that is ongoing as this is typed – the price of potentially life-saving EpiPens has increased fivefold in the decade since Mylan Pharmaceuticals acquired the product. One of the clear economic concepts that the EpiPen controversy demonstrates is elasticity of demand. As Guo (2012) points out discussing price elasticity of demand, the concept is simple. It is intuitive as well. When prices go up ...

We are often contracted to be coerced by our everyday actions because we believe that everyone in the group is better off. If a person buys something voluntarily, they know that they will have to pay tax on that product because it is of the benefit to the majority. There will be harm from the state if they don’t pay the tax or they will not receive what they want. There is a problem when people can’t make good judgments or there is a choice or alternative and the only option is to participate. This is not voluntary. If ...

Hurricane Sandy will perhaps go down as one of the most covered news events in 2012. The hurricane, which was described as the biggest Atlantic Hurricane that has ever been recorded, was the tenth hurricane to occur in the Atlantic Ocean this year. Hurricane Sandy had the largest impact in Northeastern United States where it intensity reached the highest classification Category 1. The huge intensity and damage which the hurricane had was the major reason behind its widespread media coverage. The Cable News Network (CNN) was one of America’s media houses that covered news on the impact ...