Price Gouging

This picture simply states the fact “Price gouging is illegal following a declared State of Emergency.” Florida is not the only state to invoke laws banning the raising of prices on essential goods after a natural disaster and many other states have fines up to $25,000 for “price gouging.” Is it morally wrong though? Prices allocate goods in market systems and when supplies fall short when demand soars it is called a shortage. If prices aren’t raised when shortages occur then it’s very hard for suppliers to sustain the supply of a certain good because consumers buy much more of the good then they need. If we expect customers to be able to receive the essential goods they need in an emergency, why then is it illegal for suppliers to attempt to compensate for a highly increased demand by raising prices? It is the consensus among economists that price gouging is a positive force that allows the market to function efficiently, benefits the supplier and the consumer, and saves lives. Why then do politicians make laws banning price gouging from happening? The people see price gouging as an immoral and evil thing to do, the media portrays it in the same light, and politicians react in their favor despite the fact that is actually quite the opposite of immoral and evil. If politicians know that price gouging is beneficial but the people are against it, is it ethical for them to act with the people or against them for their own good?