Question: Is it morally wrong to profit from someone else's distress? People often decry "taking advantage" of other people as cruel and wrong. For example, suppose that a person desperately needs water after a hurricane or other natural disaster. I charge him $1000 for a gallon jug, knowing that he can pay that much if he's really that desperate. Is such price gouging immoral? Is it fundamentally different from other kinds of trade – or just different in degree? Is it morally wrong to profit so handsomely by the distress and scanty options of other people in this way?
Tags: Benevolence, Capitalism, Economics, Ethics, Justice, Law, Price Gouging