Saturday, July 19, 2008

Many People Who Could Use Econ 101

This is admittedly picking the low-hanging fruit. Sue me.

Here is a facebook group that claims gas prices can be lowered substantially if everyone refuses to purchase gas from ExxonMobil. Not buy less overall, just buy it from different companies. 545,000+ people who need introductory economics.

Here is another group which supports a legislated price cap of 79.9 cents/litre. 131,000+ people, and the group is exclusively targeted at Canadians. These people really, really need introductory economics.

I could keep going like this for some time. Kinda depressing, really.

2 comments:

Anonymous said...

The stupidity of humanity and the general lack of comprehension of markets will never cease to amaze. I would propose that this is imperfect information proven.

Matt Nolan said...

If it is a sustainable strategy, and if the fuel companies were tacitly colluding, the facebook group thing could work:

http://tvhe.wordpress.com/2008/06/04/collusion-retail-petrol-prices-and-market-activism/

It is unlikely that conditions are appropriate - but it is not impossible :P