Gouged: Why Americans Are Being Ripped Off and How to Fight Back 2026

In her new book Gouged: The End of a Fair Price – and What That Means for Your Wallet, economic sociologist Lindsay Owens argues that Americans are being ripped off by corporations at unprecedented levels. The head of the progressive thinktank Groundwork Collaborative says we are living through a "reinvention of the rip-off" that is eroding trust in the economy and fueling consumer rage. But what exactly is driving this phenomenon, and what can be done about it?

What Is Price Gouging and Why Is It Happening Now?

Price gouging occurs when companies exploit market conditions to charge exorbitant prices for goods or services. While it's often associated with emergencies like natural disasters, Owens argues that in today's economy, it has become a systemic feature. "Right around the time that America started experiencing rising inflation and cost of living in 2021, I started to realize that there was something else going on besides just high prices," she says. Corporate consolidation, algorithmic pricing, and a lack of competition have enabled companies to raise prices beyond what's needed to cover costs.

How Companies Get Away with Gouging

One key tactic is the use of shared software to coordinate prices. When competitors use the same pricing algorithms, it can lead to tacit collusion, keeping prices artificially high. Another is the rise of AI 'shopping assistants' that are supposed to help consumers find the best deals but often steer them toward higher-priced items. Owens points out that these practices are not just unfair—they're undermining the very foundation of a fair market.

Key Industries Affected by Price Gouging

While gouging happens across the economy, some sectors are more prone to it than others. The table below highlights industries where consumers frequently report unfair pricing.

What Can Be Done? The Shoppers' Bill of Rights

Owens proposes a bold solution: a "shoppers' bill of rights" that would empower local and federal governments to implement tough new rules. Key provisions include banning companies from using shared software to coordinate prices and requiring AI shopping assistants to act in consumers' best interests. "A cost of living crisis is the right time to build the constituency for a revived consumer movement in this country," she says. This movement would demand transparency, fairness, and accountability from corporations.

• Ban coordinated pricing software: Prevent companies from using algorithms to collude on prices.
• Regulate AI shopping assistants: Ensure they prioritize consumer savings over corporate profits.
• Increase transparency: Require clear pricing and fees upfront.
• Strengthen antitrust enforcement: Break up monopolies and promote competition.
• Empower consumers: Support class-action lawsuits and consumer advocacy groups.

How to Protect Yourself from Being Gouged

While systemic change is needed, there are steps you can take now to avoid overpaying. Always compare prices before buying, use browser extensions that track price history, and be wary of dynamic pricing. Support local businesses and cooperatives that prioritize fair pricing. And most importantly, speak up—report unfair practices to consumer protection agencies and share your experiences to raise awareness.

FAQ

It's clear that the fight against price gouging requires both individual vigilance and collective action. By staying informed and supporting consumer advocacy, we can push back against the rip-off economy and demand a fairer marketplace for all.

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