No matter how carefully they craft their official rhetoric, politicians occasionally reveal their true ideas in off-the-cuff exchanges. John McCain just had one of those moments, suggesting that the attack on Iraq and subsequent occupation was, ummmm, about the oil. Gosh, could those crazy lefties have been right after all? Read more »
I always try to emphasise to economics students the importance of (a) cross price elasticity effects on demands and (b) the supply effects of price changes. Read more »
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