Free Market Fundamentalism Failing: Why “Supply and Demand” Cannot Explain Oil Price Deflation
Flashpoints / 19 Nov 2018/
If you are unlucky enough to still remember your mainstream economic professor’s explanation of profits, you were told it was a matter of supply and demand. Further, you were told that there are no politics in economics, just like there are no economics in politics. This article uses the deflation of oil prices to show that it is politics and debt financing that help to explain why oil prices are falling rapidly.
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