Thomas Bray writes his last column for The Detroit News. Sorry to see Tom leave - this is another example of sound economics - a quantity that’s nearly impossible to find in typical MSM reporting:
Republicans from George Bush on down caved last week to the latest round of hysteria by agreeing, among other ideas, to yet another investigation of gasoline prices. Never mind that every time the matter has been reviewed, the verdict has been the same: Market forces account for virtually all of the supposed “gouging.”
Not that one needs to have warm fuzzy feelings toward the oil companies and their extremely well-paid executives. As the founder of economics, Adam Smith, observed in 1776, “People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public.”
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