Update!
April 14, 2013 in Blogs
In light of the recent bat sh*t crazy antics engaged in by the North Korean regime, I’ve updated and expanded my rant “I’m a Fan of Kim Jong Un.” Check it out here.
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Source: ZACH FOSTER RANTS
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How Much Free Gasoline Costs
April 14, 2013 in Economics
Many oil-rich countries subsidize the sales of gasoline. Venezuela sells gasoline for less than 2 cents a gallon. The average per capita gasoline consumption is 413 kilograms. In neighboring Columbia gasoline is $4.72 and per capita consumption is 60 kilograms. This article from the Wall Street Journal (4/12) the provides the details of this great illustration of the law of demand including parade of large automobiles that continually cross the border between Venezuela and Columbia.
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Source: MISES INSTITUTE
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