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Keyword: supplyndemand

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  • Barking about gasoline

    09/12/2005 2:38:19 AM PDT · by Crackingham · 28 replies · 849+ views
    Townhall ^ | 9/12/05 | Jeff Jacoby
    What is it about the price of gasoline that turns seemingly normal politicians into barking economic demagogues? When Jill puts her house on the market for $450,000 -- triple what she paid 10 years ago, but the going price in her neighborhood today -- the politicos understand that the 200 percent markup is the result of supply and demand in the real estate market. Senators don't call press conferences to denounce Jill as a profiteer. Attorneys general don't threaten to prosecute her. Governors don't compare her to looters. But when Joe's service station ups the price of gasoline by $1...