Eugene Coyle wrote:
>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.
This isn't exactly what you're looking for, but the course of oil
prices since 1973 has been absurdly volatile - far more than the
long-term supply/demand situation has changed, not to mention the
ecological consequences. So what economically useful "information"
has been revealed as oil moved from $6 to $40, and everywhere between?
Or what useful information was conveyed by Amazon.com's move from
under $2 to almost $107 and then down below $14?
Doug
