profiteer

A profiteer is a person who seeks to profit by exploiting unusual conditions—such as shortages, disasters, or other supply disruptions—by charging excessively high prices for goods or services. The term is used pejoratively to describe price gouging, hoarding, or speculative behavior that is considered unfair or abusive, and is often contrasted with legitimate competition conducted within the law.

Origin and usage: The word profiteer is formed from profit plus the agent suffix -eer. It is generally traced to English usage dating from the 17th century and has cognates in other languages, such as profiteur in French.

Legal and social context: In many countries, profiteering is addressed through consumer protection or antitrust frameworks, especially during emergencies. Governments may prohibit price gouging for essential goods, impose penalties, or implement price controls or anti-hoarding measures. The line between legitimate profit and profiteering depends on jurisdiction and the specific circumstances of sale, market conditions, and intent.

Impact and debate: Critics argue profiteering worsens shortages, harms vulnerable consumers, and erodes trust in markets. Some observers note that higher prices can incentivize increased supply or redistribution, while many modern regimes treat extreme exploitation as unacceptable. The evaluation of what constitutes profiteering often hinges on law, policy goals, and ethical considerations.

See also: price gouging, hoarding, profiteering laws, consumer protection, economic ethics.