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Wednesday, June 09, 2004

Our more or less insane quasi-market system

The master of the off-hand comment, Noam Chomsky blogs on oil prices.

He accurately recalls that current inflation-adjusted prices were half the late 70's prices.

He sums up the rest of the issues in his typical short and concise manner.

The comments section includes the contrarian talking-points viewpoints:

  1. Argument 1 (they have been wrong before)

  2. Argument 2 (enormous amounts available)

Argument 3: that market forces can help is addressed by Chomsky,

"It might also be worth noting that there would be great advantages to a much higher price. In our more or less insane quasi-market system, the only means of something like rational planning is market forces."


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