Greenspan

[Michael Perelman]

During the fall in oil prices, I recall frequent references crediting oil
prices with prosperity at the time.  Recently, I have seen articles
claiming it was irrelevant.  Maybe I missed something important that
changed since 86.

Doug Henwood wrote:


> Max Sawicky wrote:
>
> >oil is irrelevant
>
> Oh, now that's an interesting proposition. The oil price spikes of
> 73-74 and 79-80 were irrelevant? The collapse in oil prices in 86 was
> irrelevant? What would $3/gal gas do to the U.S. economy? U.S. life
> in general?
>
> Doug

--
Michael Perelman
Economics Department
California State University
Chico, CA 95929

Tel. 530-898-5321
E-Mail michael at ecst.csuchico.edu