Tuesday, June 10, 2008
Greg Mankiw - Time To Update Your Agitprop
National retail gasoline prices hit $4 per gallon this week - an all-time high. Please excuse the non-updated chart above. Just imagine how high the $4 data point would be.
Flashback to October 2006 when that buffoon Greg Mankiw leaped to the front of the Moron Universe with his Pigou Manifesto. If you don't remember, in it he advocated a new $1 per gallon gasoline tax that would be quite the panacea.
It would ease congestion, save this over-heated planet, improve national security, help balance the budget, and effect a couple of other, loopy, theoretical, unquantifiable pipe dreams (e.g "regulatory relief", "tax incidence", and promote "economic growth").
I worked him over good in Dr. Greg Mankiw, The Harvard Economist, Marginalizing Himself.
And then I decapitated him in Greg Mankiw Swings and Misses when he made the cardinal sin of altercating with me personally.
Well Greg, gasoline was around $2.60 back then so we've gotten your prescribed $1 increase plus another 40%!!!!
Yet roads are still congested, planet Earth is still doomed, and his other fancies (like "economic growth") remain as laughable as ever.
Hey, at least he wasn't as stupid as the New York Times which specified an absolute dollar price, $3.00 per gallon, that would usher in a terror-free, cool-Earth utopia.
And, of course, when gas was $1 a gallon, these clowns were probably all saying that a 50 cent tax would be all that's needed to get the science fictional alternative energies going!