This blog is a random collection of information, partly in support of my quotations web site. Other topics include wine, military news, economics, history, libertarianism, and other random things which happen to strike my fancy. Backup site is at http://quotulatiousness.blogspot.com/ (if there are no posts showing, hit the backup blog for explanation). Comments have been turned off, as the spam was getting too much to handle. Comments can be emailed to me for posting.

April 30, 2006

QotD: Economic Scapegoats

When people in public offices start bleating about a conspiracy of private firms to screw the public, it is usually a sign that said public official is trying to spread a profound misunderstanding of market forces, or is an idiot, or is trying to name a scapegoat to shore up public support. In the case of President George W. Bush — not exactly the brightest light in the harbour — it may be just be a combination of all three.

Johnathan Pearce, "The price-fixing fallacy as applied to oil", Samizdata, 2006-04-26

Posted by Nicholas at April 30, 2006 11:45 AM
Comments


Visitors since 17 August, 2004