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I hate to disagree but the free market is often a great guide to tell us how much we need of something. The USSR tried telling industries how much to produce ea
by mrfusion 7y ago
I hate to disagree but the free market is often a great guide to tell us how much we need of something. The USSR tried telling industries how much to produce each year and we can agree that didn’t turn out well.
Of course oil is a problem but a tax or cap and trade system would make more sense to address it.
- specialbat 7y agoYou can't have a free market when there is a monopolistic producer
- syshum 7y agoWho would that be?
- vikramkr 7y agoOPEC et al. Oil is a classic cartel controlled industry.
- syshum 7y agoI figured that would be the response, and the current price drops proves that the be wrong as the it is not just falling demand that is causing the price collapse, not that started long before COVID, it is a price war between 2 (of many) large suppliers, This idea that OPEC controls everything in oil is simply false
- standardUser 7y agoOil doesn't operate in a free market, not even a "mixed economy"-style regulated market. The majority of oil production is managed by a cartel.
- fulafel 7y agoIn economics there is a wide consensus that the free market is a lousy guide when it comes to incorporating externalities like accelerating climate change causing millions of unnecessary deaths vs perceived need to drive around in gas guzzlers. Taxes and cap-and-trade systems are indeed the mechanisms of how current international agreements try to attempt CO2 emissions, they're a fine way to implement it.
- ehvatum 7y agoIt was my understanding that by driving around in a gas guzzler, I am precipitating human extinction, bringing forward the long-awaited day when the ecology of Earth no longer includes humans, which will be “better”. Where did I go wrong? Was it when I evolved?
- deleted 7y ago[deleted]