Robert Gottliebsen

I’ve been reading RG’s strange columns with increasing incredulity.  About how raising interest rates will drive house prices up.  Now he doesn’t seem to understand that you can compensate someone for increased energyprices and they might still reduce their energy consumption (because it’s relative price goes up).  Pretty strange stuff.

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Peter Whiteford
Peter Whiteford(@peter-whiteford)
12 years ago

There are quite a number of people who appear not to understand the idea of relative price changes leading to substitution: including over here – http://www.catallaxyfiles.com/blog/?p=7091

jimparker
jimparker(@jimparker)
12 years ago

To be fair Nick, I’m sure Bobby’s stuff sounds a lot better when read out by the man himself.

http://www.youtube.com/watch?v=TVno5kEGLHE

“And so the three bears came home to find Goldilocks had been shorting their beds and speculating with porridge futures. What do you think happened next children?”