The Grumpy Economist: Speculation and gas prices

Speculation and gas prices

I was getting myself frothed up about the recent idea that “speculators” are behind the recent gas price increase. Have we learned nothing in the centuries of witch hunts for “speculators” “middlemen” and “money changers”? And how horribly things go wrong when societies take these witch hunts seriously? Haven’t the Europeans just woken up from a severe attack of denial that “speculators” were to blame for their sovereign debt crisis?

via The Grumpy Economist: Speculation and gas prices.

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