Comments on: Price Elasticity of Gasoline http://libertyisforme.blogivists.com/2008/05/08/price-elasticity-of-gasoline/ A brown girl's perspective Sat, 30 Aug 2008 11:36:08 +0000 http://wordpress.org/?v=2.5.1 By: baxtersbrother2 http://libertyisforme.blogivists.com/2008/05/08/price-elasticity-of-gasoline/#comment-2238 baxtersbrother2 Wed, 14 May 2008 17:28:17 +0000 http://libertyisforme.blogivists.com/2008/05/08/price-elasticity-of-gasoline/#comment-2238 I for one do fully support Gas holidays because of the sumple fact that we need to add money to peoples pockets. If we completely repeal the tax, then roads would not get repaired. Check out the posting on http://baxtersbrother2.blogivists.com/2008/04/30/dumb-as-we-wanna-be-is-just-that-dumb/ I for one do fully support Gas holidays because of the sumple fact that we need to add money to peoples pockets. If we completely repeal the tax, then roads would not get repaired. Check out the posting on http://baxtersbrother2.blogivists.com/2008/04/30/dumb-as-we-wanna-be-is-just-that-dumb/

]]> By: elcap http://libertyisforme.blogivists.com/2008/05/08/price-elasticity-of-gasoline/#comment-2236 elcap Tue, 13 May 2008 03:52:51 +0000 http://libertyisforme.blogivists.com/2008/05/08/price-elasticity-of-gasoline/#comment-2236 Again, well put Richard. Here's a noteworthy sentence from this week's Economist, in the lead story Almost There: Mr. Obama's refusal to follow her (and Mr. McCain) in supporting an idiotic summer suspension of the petrol tax, crude economic populism at its worst, was especially notable. Again, well put Richard.

Here’s a noteworthy sentence from this week’s Economist, in the lead story Almost There:

Mr. Obama’s refusal to follow her (and Mr. McCain) in supporting an idiotic summer suspension of the petrol tax, crude economic populism at its worst, was especially notable.

]]> By: Richard Lorenc http://libertyisforme.blogivists.com/2008/05/08/price-elasticity-of-gasoline/#comment-2235 Richard Lorenc Mon, 12 May 2008 14:32:54 +0000 http://libertyisforme.blogivists.com/2008/05/08/price-elasticity-of-gasoline/#comment-2235 For the record, I don't support gas tax holidays. I think they're disingenuous and populist. I would, however, support removing the gas tax altogether, especially in places where the (state) gas tax doesn't go exclusively to repairing/building road infrastructure. More money in people's pockets in the medium and long-term (and not in government's) is always better. No good or service is going to be completely invulnerable to the forces of supply and demand setting their prices. If it were, the price system wouldn't work, and the market would cease to be the most efficient method to produce and acquire. Gas and cigarettes are considered inelastic traditionally, however, because they've been much more so than other goods or services; I look at them as being relatively inelastic when compared to something like computers or haute couture. Let the price of oil rise to $50/gallon and we will see viable alternatives immediately. One reason we haven't, thus far, is because the supply has been so consistent...and cheap. (Plus we have government making all sorts of false incentives [i.e. subsidies] to energy companies to DELAY making new sorts of engines.) For the record, I don’t support gas tax holidays. I think they’re disingenuous and populist. I would, however, support removing the gas tax altogether, especially in places where the (state) gas tax doesn’t go exclusively to repairing/building road infrastructure. More money in people’s pockets in the medium and long-term (and not in government’s) is always better.

No good or service is going to be completely invulnerable to the forces of supply and demand setting their prices. If it were, the price system wouldn’t work, and the market would cease to be the most efficient method to produce and acquire. Gas and cigarettes are considered inelastic traditionally, however, because they’ve been much more so than other goods or services; I look at them as being relatively inelastic when compared to something like computers or haute couture.

Let the price of oil rise to $50/gallon and we will see viable alternatives immediately. One reason we haven’t, thus far, is because the supply has been so consistent…and cheap. (Plus we have government making all sorts of false incentives [i.e. subsidies] to energy companies to DELAY making new sorts of engines.)

]]> By: Today’s Gas Prices » Blog Archive » Price Elasticity of Gasoline http://libertyisforme.blogivists.com/2008/05/08/price-elasticity-of-gasoline/#comment-2230 Today’s Gas Prices » Blog Archive » Price Elasticity of Gasoline Fri, 09 May 2008 01:45:18 +0000 http://libertyisforme.blogivists.com/2008/05/08/price-elasticity-of-gasoline/#comment-2230 [...] unknown [...] [...] unknown [...]

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