Sunday, June 22, 2008
Gas: Dollars/Gallon or Gallons/Dollar?
Displaying prices in this form would emphasise Bryan Caplan's point that the instability of the dollar is a significant factor in the current high price of gasoline. The national discussion would change from concern about high gas prices to how little gas each dollar purchases.
Compared with the totality of knowledge which is continually utilized in the evolution of a dynamic civilization, the difference between the knowledge that the wisest and that which the most ignorant individual can deliberately employ is comparatively insignificant. ~Fredrich Hayek in The Constitution of Liberty