The End of a Fair Price: Dynamic Pricing and the Normalization of Gouging
This article reviews Lindsay Owens' book 'Gouged,' which argues that corporations have used inflationary environments to justify price-gouging through AI and dynamic pricing. It critiques mainstream economic theories that attribute price hikes solely to market demand.
Why it matters
It challenges the prevailing economic narrative regarding inflation and corporate pricing power, highlighting the role of technology in modern consumer costs.
This article appears in the October 2026 issue of The American Prospect magazine. If you’d like to receive our next issue in your mailbox, please subscribe here .
When inflation spiked shortly after the COVID crisis, neoliberal economists kicked into high gear. Their mission was to defend corporations for all price hikes. The reason why prices were spiking, claimed the adherents to the dismal science, owed to demand—rents ostensibly spiked due to growing demand for home offices—or legitimate cost increases, or really any cause other than the firms actually setting prices higher.
Gouged: The End of a Fair Price—and What That Means for Your Wallet By Lindsay Owens Viking
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