02 September 2005

Don't worry, we know the price of that

Look out! Evil capitalists are profiteering again. Supply and demand concerns are irrelevant if you're the state, you can just set the price for any good you want. Particularly when it's an important good like oil or gas. In times of short supply, such as in the aftermath of a hurricane through an area that sees a lot of petroleum refining, prices rise.

While I expect bad economic reasoning from Jack Layton and the rest of the NDP, even supposed free-marketers like Liberal Dan McTeague are getting into the act. When prices react quickly to market shocks, is this a sign of efficiency or anti-competitve behavior? I'll take the former, I'll leave the statists to defend the latter.


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