Bill Clinton, and John Edwards- price gougers?

Price gouging occurs whenever someone sells a good for an "unconscionably high price". Of course, since "unconscionably high price" has no real economic meaning price gouging occurs whenever a prosecutor feels a merchant is charging too much.

Greg Mankiw writes that Members of Congress "are poised to legislate against price gouging." They are mostly interested in preventing gas stations from charging excessively high prices. Fortunately, the White House, in a rare stance for economic freedom, is set to veto the legislation.

In related news Bill Clinton " made more than $10 million in paid speeches last year", and John Edwards got $55,000 to give one speech to college students about poverty.

So if I were the moderator at the next Democratic presidential debate here are two questions I would ask:

1) Raise your hand if you believe it would be price gouging for a middle class gas station owner to charge $5 per gallon of gas?

2) Raise your hand if you believe it would be price gouging for a politician to charge $55,000 for one speech.