What do terms like ‘price gouging’ and ‘freedom’ really mean?

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People in the audience hold “freedom” signs on day two of the Democratic National Convention in Chicago, Illinois on August 20, 2024. Photo credit: SIPA USA/Nathan Howard.

In Kamala Harris’ economic plan, which rolled out this month, she promises to fight price gouging, the idea that companies are charging whatever they want to maximize profits, especially when many families are struggling. Last weekend, Senator Elizabeth Warren (D-MA) defended legislation to ban the practice. States like Florida and Texas have laws to address the issue too. However, can lawmakers effectively stop price gouging? Some economists argue that intervening could cause harm.

Since the Democratic National Convention, the rhetoric of “freedom” has been coming up frequently. The term has been central in the Republican Party’s messaging over the last few decades. But DNC speakers, including Kamala Harris, pushed the party’s commitment to restoring freedom, and in the process, tried to redefine patriotism. So does freedom have different meanings for Democrats and the GOP? 

Finally, the show this week is replaying a 2023 episode, when panelists looked at political freakouts on both sides of the aisle, following an article by political comedy writer Jeff Maurer. In it, he talked about the M&M sexualization scandal and the panic it caused Democrats and Republicans,  while more important issues were happening. The panel also discussed the influence of comedy TV and the news media on politics. Are political freakouts more or less frequent now compared to last year, and is there room for self-reflection? 

Credits

Guests:

Host:

David Greene