April 25, 2006
With the talk in Washington (by Republicans no less) of price gouging by oil companies it's obvious basic economics lessons are in order. That's where a resource like Wikipedia comes to the rescue with their entry on supply and demand. If someone knows of a site full of interactive or animated supply and demand graphs let me know. Seeing how the shifting curves affect prices helps me.
Some price manipulation may be occuring--the godfather of capitalism Adam Smith wasn't even that naive--but there's no need to leap to nefarious conclusions when non-evil explanations suffice.
Charlie Sykes read this Wall Street Journal editorial on his show today that applies the basic economic laws to gasoline prices.del.icio.us | Digg it | Furl | reddit | Spurl | Yahoo MyWeb