Source: Foundation for Economic Education
by Ehsan Mousavi
“We have all heard many times that hoarding is usually attributed to greed and is highly condemned. For example, in his book The Grapes of Wrath, John Steinbeck attributes hoarding to greed and immoral profiteering, presenting it as a societal failure. In Canto VII of Dante’s Divine Comedy, he groups the hoarders together with the wasters, and states that they are forced to push heavy weights using their chests as their punishment. But is the pursuit of profit during a crisis merely an expression of greed, or does it serve a broader social purpose? Hayek would argue that it serves a crucial one.” (07/22/26)