Friday, October 16, 2009

Zubin Jelveh reports on the oil boom

Was the mini depression caused by low interest rates, tight money, or oil contraints?

Zubin of the New Republic reports on research that confirms the view of this blog, the oil price shock was a real supply and demand result. Oil supplies are tightly tuned and a world productivity growth without corresponding growth in oil productions caused the oil shock. Information technology stresses transportation technology.

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