THE WONDERFUL WORLD OF FREE-MARKET ECONOMICS.

Extract from real TV interview.
Interviewer:
So, what do you think will happen as the world's oil resources become scarce?
Young, assured free-market economist:
Demand will be regulated by price increases, of course.
Maybe free-market economists might wish to consider the Process of price adjustment. In the circumstances, might not this be protracted and nasty?
It is hard to see how the process of price adjustment could avoid extortion by oil-rich countries, massive military and political conflict, guerrilla warfare, extensive regime change and subversion on a global scale, with the threat of nuclear warfare in the background. Poor countries and poor people will suffer horribly, as always.
If the world survives, there will eventually be a re-balancing of supply and demand, maybe governed by price, but more likely by power and 'realpolitik'.
Moral.
Beware people with no practical experience of the ways of humankind who peddle pure theory as the answer to the world's ills.
More to follow on the negative impacts of secular religions.