Image of 100-dollar bill with a surgical mask photoshopped across Benjamin Franklin's face.Enlarge (credit: Anton Petrus | Getty Images)
As the nation and the world reel from the COVID-19 pandemic, many goods are in short supply and high demand. That basic economic formula means prices are going up—way up. Among the nation’s largest digital storefronts, a combination of individual sellers out to make bank and algorithmic pricing that may or may not have a basis in reality has resulted in a wave of exploitative price gouging that state and federal regulators are trying to put to a stop.
Attorneys general representing 33 US states and territories yesterday signed letters (PDF) urging online retailers to set and enforce policies banning price gouging on their platforms during this emergency.
“While we appreciate reports of the efforts made by platforms and online retailers to crack down on price gouging,” the attorneys general wrote to Amazon, Craigslist, eBay, Facebook, and Walmart, “we are calling on you to do more at a time that requires national unity.”Read 7 remaining paragraphs | Comments

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