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I keep on reading in the Economist that market liberalisation is good even if others outside don't do it for themselves.

In this case, UK gas owners get a higher price for their gas on the continent than they would selling in the UK: surely that is a good thing for them. And UK gas users presumably get cheaper gas than they would on the continent the rest of the time, thanks to liberalisation. So where's the problem?

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Thu Jan 8th, 2009 at 05:23:30 AM EST
[ Parent ]
So where's the problem?
The damn winter doesn't understand the theory of comparative advantage?

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$E(X_t|F_s) = X_s,\quad t > s$
by martingale on Thu Jan 8th, 2009 at 05:36:50 AM EST
[ Parent ]
People freezing to death IS a market solution: it reduces demand.

In the long run, we're all dead. John Maynard Keynes
by Jerome a Paris (etg@eurotrib.com) on Thu Jan 8th, 2009 at 06:41:12 AM EST
[ Parent ]
The market can only bring good outcomes. Don't you know anything??
by Colman (colman at eurotrib.com) on Thu Jan 8th, 2009 at 06:46:05 AM EST
[ Parent ]
A solution on the boundary of the feasible set? Holy moly, that's probably not even differentiable! Savages!

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$E(X_t|F_s) = X_s,\quad t > s$
by martingale on Thu Jan 8th, 2009 at 06:52:25 AM EST
[ Parent ]

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