2 ms·
Unfortunately, we don't have anything like a free market in America, and we haven't had it for over a century. The correct term for what we have is a mixed econ
by maxharris 17y ago
Unfortunately, we don't have anything like a free market in America, and we haven't had it for over a century. The correct term for what we have is a mixed economy, meaning a mix of (increasing) regulation, control and (diminishing) market forces.
Having said that, I do agree that oil will simply get more expensive, and that we won't simply run out of it.
- stretchwithme 17y agowe do have something like the free market in the US. its distorted, compromised, partially outlawed to be sure. the real estate bubble and its collapse were certainly caused by a perfect storm of market distortions, many of which are still with us. but prices for many things, including oil, are set freely and that is the element of the market relevant to the existence of the supply of oil