OT - Gas to hit 4.00
shane at hathawaymix.org
Wed Aug 31 17:25:25 MDT 2005
Andy Bradford wrote:
> Thus said Shane Hathaway on Wed, 31 Aug 2005 14:56:54 MDT:
>>Jonathan Ellis wrote:
>>>Demanding the government intervene and try to accomplish something
>>>the free market is inherently better at (setting prices) is tempting
>>Agreed. The government can take steps to smooth rough times like this,
>>but it has relatively little power to control the free market.
> The government should never take steps to ``smooth rought times'' as it
> only has the power to make things worse. The New Deal is one of the
> greatest example of governmental bungling America has ever seen. Let the
> market set the prices, that is what it is good at as Jonathan suggests.
I did not suggest new legislation or price fixing. I suggested the
government should react by:
- advising consumers not to panic
- looking for ways to raise the capacity of other refineries for a short
- taking steps to restore refineries in short order
These kinds of reactions require a level of agility that the free market
does not have.
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