Sunday, April 09, 2006

Friday 7th to Sunday 9th

Much written, not much Watching. The commenters have done their jobs however, so the only line I'll take issue with is this one:

Who owns it makes no difference to whether the industry is in Britain, of course.
The "of course" is classic Worstall, usually said after he's criticised Polly Tonybee for something she has said that later turns out to be right. The "no difference" is far too strong, to quote Lance Knobel, "there is a significant amount of research showing it does matter. Over time, high value-added activity tends to concentrate in country of ownership".

I'd also rather question the piece on oil. Tim appears to believe the main market-distorting thing in oil now are Chinese subsidies, while the other Tim in the comments (who works in oil, I think, or some energy field) appears to believe that there was a totally free market in oil before OPEC.

Update: The piece on David Cameron's way to make the world a better place makes one of the points we were discussing below - the absurdity that is 'fisking'. Tim knows, and everyone else knows, that when David Cameron says 'take the bus when you can', he means, 'instead of driving'. Tim has to pretend not to realise that to make his point. Why oh why?

1 Comments:

Blogger Tim Newman said...

while the other Tim in the comments (who works in oil, I think, or some energy field) appears to believe that there was a totally free market in oil before OPEC

No, I don't think this. But before the formation of OPEC, the price was determined by market forces to a much greater extent than it is now.

3:43 AM  

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