August 4, 2008
Heading Back to Cuba
Former Cuban political prisoner Hector Palacios is returning to Cuba. Here is Mary O'Grady's op-ed on his decision and the related video:
Posted by Peter Mork at 11:40 AM | Comments | TrackBack (0)
July 1, 2008
Price Controls Wreaking Havoc in Iraq
Motorists are facing lines miles long trying to fill up their tanks in Baghdad. The Iraqi Oil Minister blames pipeline sabotage. The real reason lies burried halfway through this AP article on the shortages:
The official price for a liter of gasoline in Iraq is the equivalent of about 38 cents, or about $1.44 a gallon. But the black market price, which has risen significantly in recent days, can be almost three times that amount.
As Thomas Sowell famously put it: "As an economist, whenever I hear the word 'shortage' I wait for the other shoe to drop. That other shoe is usually 'price control.' "
For more on price controls click here. For an unpublished letter to the editor on the the effect of price controls in Iraq click here.
Posted by Peter Mork at 10:13 AM | Comments | TrackBack (0)
