ARNOLD KLING
August 14, 2011
The Top Political Contributors
August 11, 2011
Gender and the New Commanding Heights
August 11, 2011
Jamie Galbraith Makes an Assumption
August 11, 2011
Macroeconometrics: The Science of Hubris
August 10, 2011
Real and Nominal Bond Yields
BRYAN CAPLAN
August 14, 2011
The Effect of Thumb Sucking on Income
August 12, 2011
The Voice of Cold, Hard Truth to All Would-Be Educators
August 12, 2011
Ability, Morality, and Prosperity: A Paper and a Report
August 11, 2011
The Theory of Time and Frittering
August 10, 2011
Male Variance and the Remnants of the Gender Gap
DAVID HENDERSON
August 9, 2011
Hayek in "Unbroken", Part Two
August 8, 2011
Hayek in "Unbroken"
August 5, 2011
James Bovard on the Peace Corps
August 4, 2011
Summers Way Off on FDR and 1941
August 3, 2011
The "Amazon" Tax
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Wasn't Carter the one who started deregulation of the oil market, Reagan basically just came in after they were already ending?
I thought that was for airline and trucking dereg, not oil. Anyone?
Carter carried out the transportation deregs. Reagan was responsible for the oil.
"The Jimmy Carter administration began a phased deregulation of oil prices on April 5, 1979, when the average price of crude oil was US$15.85 per barrel (42 US gallons). Over the next 12 months the price of crude oil rose to $39.50 per barrel (its all time highest real price until March 7, 2008.)"
http://en.wikipedia.org/wiki/1979_energy_crisis
That must really sting.
I think people should avoid analogies which both sound like witty cocktail party discussion and show their politics. It usually ends badly.
Oil...
Nixon: problem
Carter: solution, blame
Housing...
Clinton: problem
Bush: problem, blame
Obama: blame (solution???)
Isn't it really?:
Clinton/Bush/Obama:Nixon :: ???:Carter/Reagan
I agree with others and think Nixon instead of Carter would work better in the analogy.
Obama: Ford :: ??? : Carter
No No no.
???: Volcker
It probably means a really painful readjustment. At this point the government is doing everything in its power to stop recalculation from happening.
A quote from the Wikipedia article cited above that gets to the Nixon/Carter/Reagan roles:
"Carter proposed removing price controls that had been imposed in the administration of Richard Nixon before the 1973 crisis. Carter agreed to remove price controls in phases; they were finally dismantled in 1981 under Reagan."
Eleven days after he took office, Reagan ordered immediate decontrol of oil prices. The action ended the Nixon-era price controls eight months ahead of the schedule set during Carter's administration.