Some time ago, I posted a section from my Natural Instability book regarding
the prices of passenger pigeons right before their extinction.
Eugene Coyle wrote:
> I'm writing a sort of polemical piece on the California electricity
> crisis.
>
> The prominent academic economists advocate confronting the customers
> with the high prices, so that they will conserve, particularly on-peak.
> The marginal price/cost of the most expensive unit running at the time
> of the peak is the price that will save the day.
>
> (Most of the kilowatt-hours supplied at the time of the peak are
> produced at much lower cost in the big base-load plants -- so that there
> is a very large daily over-collection above average cost if peak load
> pricing is used.)
>
> Here's my quest: I'm looking for a concise quote or two which make
> "market prices" look absurd. I've looked at the period of the Irish
> famine/starvation of the 1840s and some very cruel remarks were made.
> But what I've found are from politicians or clergymen, not economists.
>
> Nassau Senior said some unpleasant things about the Irish people but
> I haven't found anything directly on point by him or another economist,
> where charging very high prices for subsistence food is good for you.
> Senior said something like it would not be enough if only 1 million
> died.
>
> It seems that there must be something I can use -- a la Larry
> Summers dumping pollution on the lower races --- but I'm looking for
> pricing statements.
>
> Anyway, I've found nothing concise and on target on that British
> imperial genocide. I can get to a decent library if there is a
> document/book to look up.
>
> Any suggestions?
>
> Gene Coyle
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 530-898-5321
E-Mail [EMAIL PROTECTED]
