Vice and economics

You’d think pricing of essential commodities like oil would be government-regulated, but alas, that is not the case. The free market prevails over human rights again.

Where do they get these people so ignorant of the subject under discussion?

12 thoughts on “Vice and economics”

  1. Tim, This is the type of people that feel they and their friends should be the Government. Exclusively. “You will eat ze bugs and like it, because we know better.” exclusive.

    The mere notion of someone having a different opinion has them in stitches, and designing gulags.
    All for our own good, of course.

    I prefer honest dictators. At least they tend to have a pragmatic point of view, and a self-interest you can poke at.
    And even the most mentally unstable of them do tend to be of the same opinion for more than a week, so you have something to work around/with.

  2. If you left the oil price in the benevolent hands of the Sheik of Saudi and the Presidents of Nigeria and Venezuela, would the price tend to be higher or lower than these journos would like?

  3. The writer believes that Gosplan is far superior to any market-based solution. She is wrong. When I was working in Siberia in the 1990s I was presented with a proposal for a small oil refinery that (they said) would have a return on investment of over 50% pa because the cost of refining the oil near the oilfield was so much less than the cost of piping it to the Gosplan refinery and trucking the petrol/diesel back.

  4. If they can the peoples seem to exercise their human rights by moving to places with market economies wrt essentials. I can’t explain this except to refer this to St Milton for a better overview.

  5. It’s Vice…it’s isn’t like they’re aiming for rigorous thinking or bright logic. They’re a fourth-rate web newsletter that sensationalizes trivia for their mouth-breathing, cretinous visitors.

  6. This is easy… we can simply look at the profits of petrol retailers, and see what correlation exists between prices and profits. I assume someone has done this… if there is a significant mismatch then we might want to undertand *why* this is the case, and if it is due to new market participants not being able to provide price competition, then we might want to consider what is the most market-based solution to encourage more dynamic competition.

    Or we could regulate prices, as that has a 100% track record of success.

  7. Funny that I hang out with their conservative co-founder every now and then. When I asked him what he thinks of the other two, Shane and Suroosh, he said something along the lines of “I hope they get plowed by a fucking truck.”

  8. Governments put sanctions on the large part of our oil that comes from Russia, and then they claim it’s markets that are failing??

  9. Unfortunately the price of oil isn’t regulated by government(s) but the level of supply is. Including OPEC and the WEF.

  10. “The free market prevails over human rights again.”

    Since when did freedom cease being a human right?

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