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Overnight Open Thread

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Obdicut (Now with 2% less brain)9/28/2010 6:02:55 am PDT

re: #57 publicityStunted

On another note, you’ve spoken before about how the real cost of oil is hidden through various “artificial” (i.e. non-free-market) mechanisms, correct?

Kind of the opposite: The real cost of oil is naturally hidden in the ‘free market’, because the free market can’t charge for things like pollution. The real economic cost of oil should also include the cost of cleaning up the pollution it generates; the free market has no mechanism to adjust the price of things so that it reflects the damage that they do. The free market can only evaluate the value of things in terms of consumer desire for them, and nothing else.