In Sweden there are laws against that, both in criminal law and contract law. There are laws regarding price gouging, laws regarding emergencies (for example, if one is drowning it is not legal to sell them a life vest) and also laws regarding tricking people with “lack of mental capacity” into paying more than a reasonable price for an item. Basically it isn’t, in theory, legally allowed to exploit people.
However, there are no enforced limits regarding interest on loans (used to be 6% until the 1860s). A possible limit is currently being discussed. There are limits for the cost of renting your apartment to someone, however this is rarely brought to court since people firstly don’t know it is possible and also people value a second hand renting contract too high to risk losing their contract, unreasonable costs aside.
tempstud t1_iy3jbxf wrote
Reply to ELI5: Can I charge whatever I want for a product or are there laws against that? by Zondartul
In Sweden there are laws against that, both in criminal law and contract law. There are laws regarding price gouging, laws regarding emergencies (for example, if one is drowning it is not legal to sell them a life vest) and also laws regarding tricking people with “lack of mental capacity” into paying more than a reasonable price for an item. Basically it isn’t, in theory, legally allowed to exploit people.
However, there are no enforced limits regarding interest on loans (used to be 6% until the 1860s). A possible limit is currently being discussed. There are limits for the cost of renting your apartment to someone, however this is rarely brought to court since people firstly don’t know it is possible and also people value a second hand renting contract too high to risk losing their contract, unreasonable costs aside.