Showing posts from June, 2010

The Glorious Oil Spill

A hardcore capitalist tried to convince me of the power the free market has on the oil industry.  When we had this conversation, there were only gasoline powered vehicles.  Electric cars were an impractical novelty.  Car companies competed with each other. Oil companies competed with each other. Tire companies, engine manufacturers, and vehicle design teams all competed against their respective opposition. However, there was no viable alternative vehicle to a gasoline powered car. Trains, subways and planes take people to approximate locations near where we want to go.  Gasoline powered cars were the only thing that got us to our final destination and their dominance was unopposed. Oil and car companies, with big money, power and expensive lobbyists made sure that innovations opposing their dominance were crushed. This didn't seem very "free market" to me. I told the capitalist this.  He just said that if people wanted alternatives, they would stop buying gasoline. Cons