I'm sorry to be a pill, but lately I've been thinking about all the agonized kvetching over oil and gas prices and I just can't see why people who believe in capitalism should ever be in a panic over prices. Are things, in the here and now, painful? Yes, undeniably.

But those of us who believe in hard work, rugged invidivualism and the Market should realize there is nothing to fear. The Invisible Hand guides everything behind the scenes and in the end it is the consumer who controls his own destiny and the market forces that shape prices. In the past week or so we have seen what can happen when demand drops and when there is talk of opening up more drilling.

Anybody who has opposed drilling for oil for environmental reasons has been shooting themselves in the foot and obstructing market forces. Americans who want to see prices drop should get behind drilling with all their hearts and should also continue to take other steps to reduce our need for foreign oil. Even though national boundaries will hopefully become less and less important in the coming decades, right now we definitely need to stay strong because the world can't really begin to come together until we have broken the stranglehold the Arab civilization has on oil.

The point is, people should not panic over prices because the free market is going to take care of itself and continue to provide for those of us who believe in it.

I must say that this has been the most polite disagreement I have had on ATS in a long while. Thanks for the civility and thanks for not calling me a communist or a socialist - which I am not - I just think unfettered Capitalism tends to breed exploitation of people and resources.

Kudos on the civility guys. Personally, I think that a false assumption is that the free market is possible. I feel that because of the psychology of humanity, the free market cannot exist. Rather than jobs, contracts, etc. going to companies/individuals with the most experience, ability, qualifications, etc. social networks dictate the flow of opportunity. For instance, I feel that in a truely free market there would be no inheritence of wealth. Allowing wealth to be passed on to children undermines the free market, for there is no guarantee that the children of successful business owners are the most apt to continue the legacy. Rather, we see more and more Paris Hiltons and the like, who are raised in a decadent world, and do not give back to the market. We then find centralization of wealth and power, which leads to the current situation, where in small companies are bought out by large companies, and then due to lack of standards for globalized goods, quality decreases.

Greed is another factor that will not allow the free market to reign. Greed strips the invisible hand of power, and causes the economy to tilt toward the ever decreasing number of individuals who hold most of the wealth of the world. For instance, Dubai is a complete waste of money. It only benefits a small proportion of the planet, which could be used to increase gains in third world countries, rather than serving as a sign of the greed and decadence of the ridiculously wealthy.

My beliefs are based off the fact that I find humanity is incapable of doing the "right" thing, unless they are forced to. Humanity, as a whole, rarely does what would maximize productivity on a large scale, and instead focuses on the individual and the few social contacts they possess. The few who are able to "pull themselves up by their boot straps" are statistically insignificant, when compared to the millions across the world who suffer due to our atrocious business practices.

This of course, as you stated, is based off the fact that I feel business leaders are only interested in personal gain, and not quality, business, increased poductivity on a whole, etc. Rather, I feel that they are mostly selfish, and only care about money. They will do anything for a buck. Their behavior, in my opinion, dehumanizes the world, and allows for the horrendous work environments we find throughout the planet. Just my opinion of course. I'd like the free market to exist, I just don't think it can in society at present.

Originally posted by dragonfire2159
For instance, I feel that in a truely free market there would be no inheritence of wealth. Allowing wealth to be passed on to children undermines the free market, for there is no guarantee that the children of successful business owners are the most apt to continue the legacy. Rather, we see more and more Paris Hiltons and the like, who are raised in a decadent world, and do not give back to the market. We then find centralization of wealth and power, which leads to the current situation, where in small companies are bought out by large companies, and then due to lack of standards for globalized goods, quality decreases.

These are the systems republicans fight and a better statement couldn't be made to asses the condition of our country. It's not only the inhertance of wealth but also power, These people wish to inherit and pass on power as was done in the middle ages by England when we came here!!!!!!!!!!

Uh...

The US is going to save the world (again) by drilling for an exhaustible resource, oil, and everything will be fine?

That's not market forces. No one has been standing in the way of drilling for oil except for the market itself. The only reason Bush and Oil Co™ are flirting with drilling for oil offshore is because it is now more profitable than it was when the oil price was low.

So in effect, it's the market that has been standing in the way of new drilling, not the environmentalists.

[edit on 26-7-2008 by mattguy404]

Originally posted by mattguy404
Uh...

The US is going to save the world (again) by drilling for an exhaustible resource, oil, and everything will be fine?

That's not market forces. No one has been standing in the way of drilling for oil except for the market itself. The only reason Bush and Oil Co™ are flirting with drilling for oil offshore is because it is now more profitable than it was when the oil price was low.

So in effect, it's the market that has been standing in the way of new drilling, not the environmentalists.

[edit on 26-7-2008 by mattguy404]

Mattguy for the win


This reminds me of people who wear pyramid hats and worship a god called "Free Marketoro" You are being scammed, people I'd rather live like in Denmark then I would the Kremlin.

I dont know why so many people are so upset with the price of Oil...


yes its high, but the demand is also very high for this...


Now, i know most(99%) people on here have a highschool education, and with that, they should have had to take a Econmomics class, that outlines the BASIC principals of Supply and Demand.

Im not sure if people just never learned anything, or just happen to skip that day of class, but the general principals of supply and demand works like so:

With an increase in demand, and a Static Supply, Price goes up
With an increase in supply, and a static Demand, Price goes down


Right now, global Demand is GOING WAY UP, and the Globals supply isnt growing to match that demand... Thats why the price is being raised...

As long as people are willing to pay, then that price is what it should be...