The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. – F.A. Hayek
Posted in Economics Problems, Macroeconomics on Nov 23rd, 2009
This abstract says it all:
Why are the 2000s so different from the 1970s? A structural interpretation of changes in the macroeconomic effects of oil prices …
In the 1970s, large increases in the price of oil were associated with sharp decreases in output and large increases in inflation. In the 2000s, and at least until the [...]
Posted in Environment, Flotsam and Jetsam on Jul 10th, 2008
Posted in You Can't Have it Both Ways on May 27th, 2008
“if the House of Representatives has now declared it “illegal” for the Government of Saudi Arabia to restrict oil production, why is it still legal for the Government of the United States to restrict oil production”
Check out Mark Steyn’s OpEd here.
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