Prices and Greed

by Don Boudreaux on September 12, 2006

in Energy, Myths and Fallacies, Prices

It’s too easy to argue that, if rising gasoline prices are caused by corporate greed, then falling gasoline prices must be caused by corporate altruism — or at least by a decline in corporate greed.  (I did once succumb to the temptation to pursue this easy route.)

But perhaps a better explanation for the recent decline in gasoline prices is consumer greed.  Consumers obviously have become more greedy, thus explaining this decline in prices at the pump.

Compelling, no?


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