The End of a Fair Price: Dynamic Pricing and the Normalization of Gouging

The article discusses how dynamic pricing, where prices change in real-time based on demand, is becoming increasingly prevalent, potentially leading to price gouging. This practice is being implemented by companies such as airlines, hotels, and even restaurants. The author argues that this approach normalizes the concept of gouging and makes it more acceptable. They also highlight the challenges of regulating such practices, citing the example of the US Federal Trade Commission's (FTC) inability to effectively address price gouging. The author also mentions a book called 'Battling an Army of Price Setters' by Tim Owens, which explores the issue of dynamic pricing.