I didn’t mention inflation because that’s another more complicated topic. From what I understand it’s more based on fiat currency rather than basic supply & demand principles.
The reason I asked this question is that according to basic supply & demand principles, which capitalism is based on, these oil & gas price increases are bullshit. Am I missing something? Are people that blind?
I’m open to being wrong and fully admit that I’m not an expert on these topics. But it seems to me that capitalism is failing on a fundamental level. Supply/Demand/Cost of Production stays the same but the consumer price DOUBLES. This spits in the face of BASIC economics. It’s like someone invented a perpetual motion machine that spits in the face of thermodynamics.
I didn’t mention inflation because that’s another more complicated topic. From what I understand it’s more based on fiat currency rather than basic supply & demand principles.
The reason I asked this question is that according to basic supply & demand principles, which capitalism is based on, these oil & gas price increases are bullshit. Am I missing something? Are people that blind?
I’m open to being wrong and fully admit that I’m not an expert on these topics. But it seems to me that capitalism is failing on a fundamental level. Supply/Demand/Cost of Production stays the same but the consumer price DOUBLES. This spits in the face of BASIC economics. It’s like someone invented a perpetual motion machine that spits in the face of thermodynamics.