Previously, if there was a shortage of say plane brake discs, the wholesaler would jack the price up 10x for the last 3 sets. That would lead to one of the 4 customers who wanted to buy them to say "nah, it's too expensive, we don't need it that badly".
The person who wouldn't get a set was probably the guy restocking the spare parts shelf, while the people who really really needed those parts right now so a plane can takeoff got them.
In todays world, it's illegal to jack the price, one customer buys all the cheap stock (one to use, 2 as spares cos they heard about a shortage), and now 2 planes can't take off.
The same happens for thousands of other products all across the world. The end result is the people who really need goods can't get them, while others sit on piles of stock 'lucky we bought some just before they ran out!'. Endgame: The economy grinds to a halt over tiny shortages everywhere.
The proper solution is to allow and encourage price gouging again, and have a PR campaign to explain to the public how changing this law really is in their interests, even if it appears on the surface that paying $100 for a flashlight in an emergency can't be good for anyone.