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And we would happily change to another system if it provided long-term price stability.
by DocTomoe 5y ago
And we would happily change to another system if it provided long-term price stability.
- WalterBright 5y agoYou'd be happy, but that happiness would fade after not too long. It was tried in the US in the 1970s, and produced long gas lines, shortages, and gluts. It's what always happens when the government engages in price fixing and supply fixing.
- DocTomoe 5y agoYou mean like OPEC? Also, I did not even mention price or supply fixing: prices can be stable for reasons outside governmental and/or monopolistic-evildoer's direct control.
- WalterBright 5y agoI meant Nixon's price and allocation controls he imposed on gas. The proof that the lines were not OPEC's doing is the moment Reagan repealed those controls, the gas lines disappeared and never came back. And I mean the moment. Gas lines one day, gone the next.