* Posts by Chris

1 publicly visible post • joined 13 Aug 2008

Windfall taxing big oil: how to make the gas crisis worse

Chris

Gr8

While I agree that the free market will eventually step in and reduce these excess profits, it doesn't stop companies from amplifying any discrepancies between the cost of materiels at source and the price they are sold for to the public to generate even more excessive profits at the expense of increased poverty of the consumers.

Also note the wording 'eventually'. Adam Smith may have the events correct, but the timing details are crucial - while waiting for the free market to correct this situation consumer poverty will likely be further increased.

Great system for corporation, but not so great for the people suffering in the name of profit. One of the things lacking from the free market is human compassion - hence the need for governmental intervention to curb corporate excesses.