The Oil Drum | Hirsch on CNBC: Peak oil problem "as massive as one can possibly imagine"

103 comments on Hirsch on CNBC: Peak oil problem "as massive as one can possibly imagine"

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urbangardener on May 20, 2008 - 5:33pm

Hear, hear.

There is not now- nor ever has been nor ever will be- any such fantasy as a free market economy.
It's rigged in favor of the big players and always will be. Any time the smaller players point this out, you can be sure some patsy for the big players will complain that the smaller players don't appreciate the [non-existing] free market economic system!

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quixotic on May 20, 2008 - 11:09pm

And even though there is no better system to efficiently allocate goods, capitalism still can't handle 1) externalities (eg pollution travelling from one property or jurisdiction to another), 2) public goods (eg, health and education), and 3) common property resource dilemmas (eg, fighting over fish in the sea). Thus, most countries have a combination of capitalism and socialism (even the USA has public schools).

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103 comments on Hirsch on CNBC: Peak oil problem "as massive as one can possibly imagine"

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