Posted by
The Conservative Hispanic on Saturday, August 02, 2008 11:21:31 AM
Today I read for the first time Cafe Hayek authored by Don Boudreaux and Russ Roberts. In one post in particular, Boudreaux writes about a letter he submitted to the Aurora (Illinois) Beacon News about
Barack Obama's "emergency
rebate" proposal to deal with rising gasoline prices.
Click on over to Cafe Hayek and read Boudreaux's post and his letter explaining why Obama's plan displays a serious lack of understanding of basic economic principles.
This plan - which increases the demand for gasoline and reduces its
supply - makes as much sense as trying to put out a fire by dowsing it
with jet fuel.
This is Economics 101 -- the kind of stuff they teach during the first year of business school...or should be teaching. I'm not really sure what sort of economics Harvard is teaching these days.