Does Limiting Price Gouging Work Against the Market?

A question I came up with in discussion from my MBA work. :)  If you're into supply and demand, I'd appreciate some discussion. :)

After reviewing issue #9 in Taking Sides by Newton, Englehardt and Pritchard, please give your opinion on this discussion question.

(
For reference if you do not have the book, you can find Zwolinski's argument here:
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1337654
and Snyder's Here:
http://connection.ebscohost.com/c/articles/37353308/whats-matter-price-gouging
See also:
http://knowledgeproblem.com/2009/05/13/price-gouging-is-it-wrong-should-it-be-against-the-law/
)


Taking into account both Snyder's view and Zwolinski's views on price gouging and supply and demand in the wake of a natural disaster, does regulation on essential goods actually create a market disparity?  For example, let's consider generators and beer.  Snyder used generators as an example of something that merits price regulation because it is an essential good.  He also referred to beer as a non-essential good that does not need to be regulated.  There is no moral wrong with charging higher prices for it, because its lack does not hurt anyone, and those who purchase it should be only those who can afford the higher prices.  Understood.  Now, let's take a look at Zwolinski's discussion on signalling in supply and demand.  Let's say that generators are selling at a 30% profit, and the price is limited to that profit range.  Beer, however, is selling at a 150% profit, because of no price limitations.  If a vendor has limited space on his next supply truck, will he a) fill it with generators, or b) fill it with beer?

In this instance, Zwolinski's argument can be clearly seen.  It appears, in fact, that limiting price gouging creates incentive to NOT supply the needs that are most important.  If there were no price limitations on the generators, they would command a premium price, and vendors would be more likely to attempt to secure a greater supply.  If the essentials are regulated, and the non-essentials are not, the market actually creates incentives for vendors to focus on the non-essentials.

What are your thoughts?