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Politics : Formerly About Advanced Micro Devices
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To: tejek who wrote (398554)7/14/2008 2:03:10 AM
From: Joe NYC  Read Replies (1) of 1575797
 
Ted,

Where the market failed us is letting us fall into the oil trap. That's part of the imperfection of 'markets and capitalism'. Here we are in the middle of an economic crisis because for 30 years we allowed 'the markets' to dictate what we should do instead of what good planning demanded we do. Countries like Brazil planned for this day and are in good shape. Countries like the US are fukked. The market is good for some things but not all things.

The only big difference I see is that we didn't build nuclear power plants like France did, since they were economically viable during the times of cheap energy.

What would have been the value of supporting for some 30 years some money losing alternatives, that struggle for viability at $140 oil? And that with benefit of 30 years of technology development.

Joe
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