News and commentary about energy and energy policy in the Volunteer State
Friday, September 5, 2008
Firms adjusted
Interesting piece here from the AP. The conventional wisdom was that if the price per barrel of oil got over $100 per barrel it would be devastating. It hurt but firms adjusted.
It is estimated that a third of all resources are allocated outside of markets, via the public sector. The remaining two thirds of resources are allocated in markets that are regulated by the public sector. Small changes in policy can have a dramatic impact on the direction and flow of resources in a particular sector of the economy and thereby on the well-being of society. Good information and analysis facilitates good debate and, in the end, good policy.
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