As the price of gasoline has continued to rise at the pumps, the debate goes on about what is actually causing these price hikes. As usual, there are those that argue that this is just another "market" driven phenomenon, and the rising price of gasoline is the reaction of the "market" to changes in supply, or changes in demand, or both. And sure, that argument is a legitimate one particularly in a capitalistic economy, but that's not what’s bothersome; some want to go farther than that to suggest that the "markets" are comprised merely of suppliers and demanders, and nothing or no one else. This is where the problem lies; it is the suggestion that the "markets", something much more complicated than suppliers and demanders is comprised merely of suppliers and demanders. It is the reduction of "markets" into suppliers and demanders that is problematic, untrue, and preposterous. Their argument may hold water with those who are ignor...
Documenting The Human Experience