Tuesday, March 25, 2008

How to make an Economics Prof. Weep

Somewhere SI’s Peter King’s old Economics professor is crying:
Rant of the Week: I paid $62 to fill my 18-gallon tank with gas on Thursday in New Jersey. With $4-a-gallon gas around the corner (I hear it's already here for premium in California), I have only one question: Where's the outrage? Why are our elected officials doing nothing -- nothing that any of us can see -- about it? I can afford gas, but how about the people who cannot? I can't believe we just let things like this happen in our society.
Welcome to your average Sportswriter/Journalist’s idea of how the economy works: the government should just fix the price of stuff, and we “shouldn’t let” things like this happen.

Here’s an idea for Mr. King: check out how well the government “doing something about high prices” works in places like Venezuela or Zimbabwe.

The free market might be scary and messy, but it’s the only thing that works, dipshit.

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