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2 Comments

  1. Wally:

    Methinks the “market will correct itself” is the slogan of Friedman / Neo-conservative economics and not directly part of the Republican philosophy. Neocons are Republicans, but not necc. vice versa. I could be wrong–and I usually am.

  2. Dave:

    The problem with the free market model is that it is being manipulated by traders. The run up in oil and gas prices is not supported by cost or short or mid term demand. That said, as the run up in price (as contrasted to cost) is not supported by the underlying economics, it should bust at some point. Or, my one class in micro economics has not served me well.