Econ Talk Pod Cast on Energy Prices

phaster · Heavy Crude Joined: Jul 15, 2007 Posts: 187

Just got done listening to last weeks Econ Talk Pod Cast on Energy Prices, thought people here might find this stuff interesting.

http://www.econtalk.org/archives/2008/06/don_boudreaux_o_1.html

Basically it is a discussion by two econ professors, who point out that high prices will change consumer behavior and they cite previous so called dooms day scenarios of the past when man kind thought they were using up finite resource commodities, but some how man kind found an innovative way around the problem and some forward looking entrepreneur(s) found solutions and got rich along the way...

Figure if you're at your computer looking over messages on this board, ya might as well listen to another POV about peak oil.
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"I'm 100% sure that unsustainable conspicuous consumption of natural basic resources will eventually lead to a proverbial hell on earth for those people who get stuck with the mismanagement mess of mankind not being stewards of the environment!"

MrBill · Expert Joined: Sep 15, 2005 Posts: 5642 Location: Eurasia

Thanks phaster. Let me just stick this little item in here instead of starting a new thread. Thanks.

phaster · Heavy Crude Joined: Jul 15, 2007 Posts: 187

MrBill

I'm not an economist, but I do like looking at a problem from several points of view, cause ya never know when some little tid bit of info can come in handy to solve a problem...

the econ talk site has an archive of a number of discussion

http://www.econtalk.org/archives.html

which I've found interesting and insightful.

The US presidential election this fall is going to be pretty interesting. I was (and am) thinking about voting for Obama because a few months ago when McCain proposed a liquid fuel tax "summer" holiday for petrol (as the british say) and diesel, then Mrs. Clinton kinda tried pandering to prospective voters using a similar liquid fuel tax holiday, the Obama mentioned in the press that he didn't think the idea held any economic merit I started to consider voting for him.

In the past I've voted green just because I view reckless conspectus consumption of natural resources like water and oil as the greatest threat the human race faces to its long term viability. Basically I see the major parties as being too self interested to really adress the big problems. Seems to me while republicans and the religious right rail the uninformed US electorate against issues like gay marrage, abortion and the global warming issue AND the democratics rail their base against issues of corporations, lack of advanced health care, offshore drilling and any kind of social security reform, the country the USA is being run into the ground by idiots who are too damn proud to admit they don't know or understand the big picture.

There was a TV on a few years ago here in the states called the west wing, it was fictious story about a US president who happened to be a nobel prize winning democratic economics who happened to to have a deep "catholic" religious grounding who was quite eloquent.

From what I've seen of President Bush (jr), I'm pretty convinced the guy and most of his policies are the work of the anti-christ.... How else can one explain the inital religious ferver for his support in the republican party.

Anyway I'm still not convinced Obama is the guy I'm going to vote for this November, because in many ways he is business as usual (for example he voted for the for US farm subsidy bill, and to a great extent has paid lip service to the idea of "clean coal" (even though if ya fully understand the technocial side of things clean coal is an oxymoron), and I think Obama is caving into the "guya theory" tree hugging side side of the democratic party that does not even want to consider the technical merits of nuclear power....

Its sad to say but I like many, project onto Obama some kind of hope for benevolent, thoughtful wise political leader who will point the people of the USA and to a great extent the world out a pretty deep hole (that humanity has dug itself into). Now if Dr. Josiah Edward "Jed" Bartlet was a real preson instead of just being a TV character, I'd vote for that guy in an instant (but for now I'm torn between Obama and who ever is the green party candidate)....

Peleg · Heavy Crude Joined: May 20, 2008 Posts: 391

MrBill · Expert Joined: Sep 15, 2005 Posts: 5642 Location: Eurasia

I cannot tell you who is better, McCain or Obama. I like Obama's message, but his grasp of economics scares me, too. At this point in time perhaps it is just better to sweep the Republican Party out and replace it with the Democrats. A change is as good as a rest. I think Obama is better than the disaster Hillary would have been. The worst of all outcomes. And McCain will be better than Bush on many fronts.

The key is likely who they choose as running mates. But to be honest I doubt whether in four or eight years that any serious economic issue will have been addressed much less solved by either party. They are just too wrapped up in the current system to recognize what a mess it is. They might still think they are part of the solution when everyone else can plainly see they are the biggest problem.

Unfortunately, the electorate is largely politically and economically illiterate, while the free Press is more interested in pandering to the masses with sensationalism than on debate or seriously reporting the issues. If high food and energy prices were not hitting the average consumers' pocketbook I doubt the Press would be giving the same coverage to such issues as climate change. It was much more fun to talk about real-estate and interior design while we were in a housing boom and everyone felt so much better about themselves and the economy.
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The organized state is a wonderful invention whereby everyone can live at someone else's expense.