OTBL Dr. Bil Provides Macroeconomic Justification for $3.00+ Per Gallon

Dr. William A. Danielson. Ph.D. Economics, Yale University:

"One of the core concepts of economics is known as the minimum efficient scale - a point where long run average costs are minimized. It explains why we have some industries with relative few, but typically very, very large companies, and why we have some very small but numerous ones in other industries. There are profound free market reasons for this, and for any government official (such as President Bush) to ignore this purely for political purposes is simply obscene."


1 comment:

Hypocrit Hounder said...

Yes, there has been a history of profundity coming from this White House from day 1. Like Chaney saying that "Pres. Reagan proved that deficits don't matter". Sure they don't matter when they hand out billions to their oil buddies in tax breaks. Maybe Dr. Bill should harken back to 2004 when he championed the current president and then start thinking "profoundly"!!!!