Michael Munger, They Clapped, Can Price-Gouging Laws Prohibit Scarcity: Library of Economics and Liberty:

Well, but what if you seek a political solution, rather than trusting markets? What if you pass an anti-gouging law, to symbolize your opposition to scarcity? Scarcity hurts; it means that I can’t have everything I want. Let’s abolish scarcity; what then? As I have tried to argue, all a state accomplishes by passing an anti-gouging law is to ensure that there is no ice. I can’t get it for $100, or $1,000. And too many citizens say, “Help: the market has failed! Let’s call on government to rescue us!”

But they are wrong. Markets didn’t fail. All that happened was that the price mechanism was bound and gagged, held hostage in the attic of the legislature.