And you wouldn't dare insult me, sir,
If Jack were only here.
Monday, February 16, 2009
Fun with Commodities
Scarcity? Chill. Carpe Diem, channeling George Will, channeling the late Julian Symon, reminds us that the price of a basket of five critical commodities fell by 21.56 percent in the ten years ending at 2000. Let's do the numbers: $100*(1-0.2156)^10= $8.62, so is that the price we can predict for a $100 basket in 3000? And when, exactly, will the supply go to infinity?