April 20, 2006
DoesnÂ’t He See The Contradiction
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I wonder – does Hawaii legislator Marcus Oshiro understand anything about economics. While supporting the repeal of a cap on gasoline prices, he made this statement.
The House said that plan is too complicated. House members want the cap repealed for good, but threaten gasoline executive with up to five years in prison if they unfairly manipulate the free market."Those instances would probably prompt a criminal or civil investigation and possibly prosecution," Rep. Marcus Oshiro said.
If it is truly a free market, then there would be no government investigation or prosecution – because the market would take care of “gouging” (a nonsensical term) via the choices made by the consumers.
Posted by: Greg at
12:50 PM
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