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Apples, oranges and oil markets - Comic |
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Friday, 25 July 2008 |
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Ruben Bolling presents a brilliant analysis of the free market in his long running comic series: Tom the Dancing Bug (after the fold).
- Adam Smith's "invisible hand " metaphor for the seeming utility maximizing order emerging from the free market is taken to the logical extreme.
- Of course, the increase in oil prices ends up acting like a carbon tax on demand, except that the oil companies that still have the same costs of production reap the reward of rising oil prices. In other words, instead of a carbon tax providing funding for alternative energy sources, the oil companies and their shareholders share the benefits of rising oil prices.
- ...too heavy...maybe the point is that economics and free markets are less realistic than a comic...enjoy the comic below the fold:
I love the broken arrow between global warming and the U.S. government!
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