Robert, I am not at all
disputing the claim that electricity costs are slow to adapt. I will
take your word for that.
But the claim you proxied was different, namely that slowness in
adaption was somehow related to lack of international trading. Yet,
the slowest adapting price you mention is for a perfectly fine,
internationally traded commodity, complete with a futures market. The scientific solution here is to discard or at least
amend the hypothesis that slow adaption is related to whether there is
international trading. Wearing my mathematician’s hat, I do not
accept proof by “widely considered”.
For the record, and without thinking too deeply about it, I would
guess that electricity prices adopt slowly is mainly because the
building of power plants and distribution network starts with a
huge initial capital expense which has to be earned back (or not,
depending on your economical system, 🙂 over a long time.
I do recall you implying that without a minimum wage there would be no unemployment. That is pure reaganomics aka nonsense. Do a fact check, i.e., look for times
or places with no minimum wage and see if unemployment occurs. For
example, during the great depression there was widespread unemployment
but no minimum wage. (You could find newer examples, but then you would have to find them abroad.) Science: hypothesis has been
proven wrong and
gets discarded. Politics: let’s hope no-one notices and draw a cat.
Totally unrelated, I agree that seizing people’s property, even with economic
compensation, really ought to be based on something a bit more
essential than the love of strip malls.