Episode 9 – Milton Friedman Speaks – The Energy Crisis (Podcast)
Free To Choose Media Podcast
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The Texas Oil Crisis - A New Set of Interventions
In 19 73, and what happens? Foreign oil becomes scarce and expensive. Domestic oil becomes relatively speaking, cheap and available. In the full wisdom of the government, we impose a tax on the production of domestic oil and give a subsidy to importing the expensive foreign oil. If you can think of more perverse policies, you have a better imagination than i do.
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