Tuesday, September 05, 2006
Credit where credit is due?
A diversion into politics…
Last year about this time, I got the biggest kick out of a political stunt by our governor. She exhorted the residents of the state of Michigan to sign a petition demanding that President Bush do something to lower gas prices. http://www.michigan.gov/gov/0,1607,7-168-21974-126331--M_2005_9,00.html
I got a chuckle out of this because I, like most semi-informed economists, understand how powerful the forces of a market economy can be in controlling prices and how relatively ineffective governmental market controls can be.
Anyway, now that gas prices are lower (as low as $2.50/gallon in some areas), don’t you think our governor should send a thank you note to President Bush thanking him for lowering the price of gas? It makes just as much sense doesn’t it?
Last year about this time, I got the biggest kick out of a political stunt by our governor. She exhorted the residents of the state of Michigan to sign a petition demanding that President Bush do something to lower gas prices. http://www.michigan.gov/gov/0,1607,7-168-21974-126331--M_2005_9,00.html
I got a chuckle out of this because I, like most semi-informed economists, understand how powerful the forces of a market economy can be in controlling prices and how relatively ineffective governmental market controls can be.
Anyway, now that gas prices are lower (as low as $2.50/gallon in some areas), don’t you think our governor should send a thank you note to President Bush thanking him for lowering the price of gas? It makes just as much sense doesn’t it?
