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Death, starvation and (in the best case) being stuck where you are are efficient market solutions to oil shortages.

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Thu Apr 27th, 2006 at 09:12:54 AM EST
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According to Amartya Sen, famines don't happen in functioning democracies. It is argued that the Irish potato famine escalated from a food shortage to a famine due to the free-market fundamentalism of the Whig government, which was ignorant and unresponsive [hence not properly democratic] towards Ireland.

Do we have a valid analogy here between famine and the possible consequences of a severe oil shock?

guaranteed to evoke a violent reaction from police is to challenge their right to "define the situation." --- David Graeber citing Marc Cooper

by Migeru (migeru at eurotrib dot com) on Thu Apr 27th, 2006 at 09:24:24 AM EST
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