[Marxism] more liberal wisdom on oil

Rakesh Bhandari bhandari at berkeley.edu
Fri Jun 27 09:23:02 MDT 2008


Don't we have a system dominated by future markets, so actual transaction
prices are closely linked to prices established in future markets--I am
not clear why and how this is so. But  if the latter prices are driven up
by speculation, then that will in fact affect transaction prices.

I am not getting Krugman's argument. And he seems to be criticizing the
actual argument mostly on the basis on the dark interests of those who are
most likely to accept it. His reasoning seems fallacious.

Yours, Rakesh





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