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Politics : Politics for Pros- moderated
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To: carranza2 who wrote (141964)10/12/2005 5:55:18 PM
From: TimF   of 793916
 
Market forces don't take in to account national interests, but they are often the best way to serve national interests. More often than not heavy government involvement in determining the price of a commodity or how it can be sold or used isn't even designed for some real or perceived national interest but rather some special interest. Even when it is intended to serve a real or perceived national interest it often doesn't.

If some Saudi royal decides not to sell oil than he will be hurting Saudi, and probably sooner or later himself a great deal. But lets assume it happens anyway. The market will increase the price of oil, which over time will decrease consumption, and to an extent increase supply from other sources. It would be painful, but it would hardly be a case of our nation being at risk. We've been through worse before and got through it fine. If you decide to intervene in this market operation with price controls and/or rationing you probably just increase the pain.

Also see
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