A Bull Case Against Mark Perry's Chart of the Century
The article critiques Mark Perry's 'Chart of the Century,' which suggests that less government control leads to lower prices in certain sectors. It references John Stuart Mill's economic principles to argue that price changes in commodities are interdependent. The author implies that Perry's chart may reflect political biases rather than purely economic realities.
- ▪Mark Perry's 'Chart of the Century' indicates that prices in less government-controlled sectors slope downward.
- ▪The article references John Stuart Mill's views on the interdependence of commodity prices.
- ▪The author suggests that Perry's chart may be more political than economic.
Opening excerpt (first ~120 words) tap to expand
"If one-half of the commodities in the market rise in exchange value, the very terms imply a fall of the other half; and reciprocally, the fall implies a rise." – John Stuart Mill, Principles of Political Economy, p. 419 Government is an ass. Human action taking place free of government control exceeds its opposite. AEI’s Mark Perry would broadly agree with the previous paragraph, if not its tone. As Perry’s “Chart of the Century” indicates, prices in sectors defined by less government slope downward, versus upward sloping prices in sectors where government control is more evident. Except that Perry himself could perhaps be convinced that the chart is more political than it is economic. Read Full Article »
Excerpt limited to ~120 words for fair-use compliance. The full article is at RealClear Markets.
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