Gingrich says gas should cost two dollars and fifty cents. When markets and politicians disagree, the market usually wins. Still, every time gas prices creep higher, there’s political hay in claiming you can fix it.
Thomas Friedman has a whole different idea on how to handle the price of gas: push it up and let it stay there. Ivan Eland calls it mercantilism.
Some crazy guy still thinks we should peg the dollar to gold. I say crazy because that’s crazy.
What would happen to the market for gas with price controls? Check the video:
Filed under: Video analysis, economics, economy, gasoline, Gingrich, gold standard, government, mercantilism, microeconomics, Newt Gingrich, petroleum, Policy, politics, price ceiling, price floor, Thomas Friedman, video
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