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Politics : Formerly About Advanced Micro Devices
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To: i-node who wrote (228418)4/9/2005 9:51:36 AM
From: SilentZ  Read Replies (2) of 1578564
 
>United States gasoline prices are, and have consistently been, among the lowest in developed countries.

And six years ago they were not much more than a third of what they are today, and the economy was probably better off. The demand for gas is pretty elastic in the short term, but if Americans take 10% fewer vacations and shop 5% less because of high gas prices in the short term, then that hurts the economy. Whether we like it or not, gas fuels transportation and helps keep our economy chugging along.

>I realize you have a friend who is working on a PhD in Economics, but do you know ANYTHING about markets?

This isn't about knowledge of markets, it's about ideology.

-Z
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