by Summary:
Russia didn’t cause Europe’s current energy crisis, which has seen natural gas prices spike 5x over last year, but Vladimir Putin seems intent on using it to his advantage....You see, "Putin" (Russia) is supposed to come to the aid of Europe as a good friend is expected to, when Europe shot itself in the foot and then demands help from a country it considers an enemy against which a German official recommended first use of nuclear weapons, and has instituted sanctions against in order to bring the economy down. Sounds like over-the-top chutzpah to me.But just on market principles the argument makes no sense. When you have the advantage, you charge what the market can bear because your job is maximizing shareholder value not helping others out of a jam that that created for themselves
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Russia didn’t cause Europe’s current energy crisis, which has seen natural gas prices spike 5x over last year, but Vladimir Putin seems intent on using it to his advantage....You see, "Putin" (Russia) is supposed to come to the aid of Europe as a good friend is expected to, when Europe shot itself in the foot and then demands help from a country it considers an enemy against which a German official recommended first use of nuclear weapons, and has instituted sanctions against in order to bring the economy down. Sounds like over-the-top chutzpah to me.But just on market principles the argument makes no sense. When you have the advantage, you charge what the market can bear because your job is maximizing shareholder value not helping others out of a jam that that created for themselves
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
New Economics Foundation writes Is the Labour government delivering on its promises?
Robert Vienneau writes Why Is Marginalist Economics Wrong?
John Quiggin writes Dispensing with the US-centric financial system
New Economics Foundation writes Whose growth is it anyway?
Russia didn’t cause Europe’s current energy crisis, which has seen natural gas prices spike 5x over last year, but Vladimir Putin seems intent on using it to his advantage....
You see, "Putin" (Russia) is supposed to come to the aid of Europe as a good friend is expected to, when Europe shot itself in the foot and then demands help from a country it considers an enemy against which a German official recommended first use of nuclear weapons, and has instituted sanctions against in order to bring the economy down. Sounds like over-the-top chutzpah to me.
But just on market principles the argument makes no sense. When you have the advantage, you charge what the market can bear because your job is maximizing shareholder value not helping others out of a jam that that created for themselves because it is your "moral responsibility."
Hey, Europeans, capitalism is a bitch. You need new leaders that have some brains. (OK, maybe a bit snarky.)
https://www.axios.com/putin-europe-gas-energy-crisis-d67d61d8-1424-4d4b-843d-3c35d9040ed6.html