The following is a letter to the editor that I submitted to the Richmond Times Dispatch on September 23, 2003. Editor, Times Dispatch: Critics of the free market declare that those who advocate laissez-faire capitalism (i.e, trade that is free of government coddling) are impractical idealists. One can only hope that the reality of the market’s reaction to hurricane Isabel caused these critics to at least briefly retreat to their ivory towers with their latest issues of The Nation. Basic economics show that price increases prevent shortages in times of a disaster. However, in hurricane Isabel’s aftermath, gas prices at my favorite Miller Mart did not increase one penny (“Big Oil” must not have been able to send out its daily conspiracy emails to the local corner gas stations). In addition, the prices of bottled water at Ukrops and lumber at Home Depot remained constant as well. In fact, many local businesses gave away services in order to build customer goodwill (such as the tire center that offered free repairs for storm-related damage). What motivated such economic effects? The rationally-selfish profit motive of these businesses. This is the same motive that critics of free markets declare as the reason for the necessity of such suffocating regulations as the antitrust laws (which are completely subjective and motivated mainly by politics). Perhaps a few good men who can make a difference will see the economic effects of hurricane Isabel and then realize what happens when markets are left free and businesses must answer only to objective laws motivated by individual rights. We could use more of these “impractical idealists.” -Bob Murphy. Richmond