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Friday, May 05, 2006
Cato Daily Dispatch: "Let 'Em Gouge 'After airing complaints about high gasoline prices and oil companies' high profits, the House voted for measures to prevent gasoline price gouging and to help speed the construction of more refinery capacity,' the Wall Street Journal reports. In 'Let 'Em Gouge: A Defense of Price Gouging,' Cato senior fellows Jerry Taylor and Peter Van Doren write: 'Why the constant government investigations only when prices are rising? Because to many, pricing significantly above cost is immoral and politicians and the press are in the business of finding immoral dragons to slay. '[I]n reality, price gouging -- like spinach -- may be unappealing at first bite but it's good for everyone in the long run. Gougers are sending an important signal to market actors that something is scarce and that profits are available to those who produce or sell that something. Gouging thus sets off an economic chain reaction that ultimately remedies the shortages that led to the gouging in the first place. Without such signals, we'd never know how to efficiently invest our resources. Moreover, we'd have no idea what to conserve. It's no exaggeration to state that, without such price signals, our economy would look like Cuba's.'"
posted by Jack Mercer @ 5/05/2006 10:54:00 AM  
  • At 5/08/2006 10:07:00 PM, Blogger English Professor said…

    The Dallas Morning News posted a chart showing what our local lawmakers drive and their estimated MPG. There was one 60 mpg Prius surrounded by half a dozen Escalades and Crown Vics at 14 to 16 mpg. Hmmm.

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Name: Jack Mercer
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"Snipet" (pronounced: snipe - it) is not a word.It is a derivative of two words: "Snipe" and "Snippet".

Miriam Webster defines Snipe as: to aim a carping or snide attack, or: to shoot at exposed individuals (as of an enemy's forces) from a usually concealed point of vantage.

Miriam Webster defines Snippet as: : a small part, piece, or thing; especially : a brief quotable passage.

In short, "Snipets" are brief, snide shots at exposed situations from a concealed vantage point.

WARNING! With due reverence to the Bill of Rights and the First Amendment there is NO comment policy on the News Snipet.

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