Gas Prices: Suck It Up!

Y’know, I think I’m about tired of folks complaining about gas prices. Increased prices are simply an aftereffect of increased wages. We all like increased wages, but few of us like increased prices [unless we’re selling something].

Do I like paying more for gas? No, not really. I’d like to spend my money on other things. But my demand for gasoline is pretty inelastic—I drive to get to work, and I drive to stay sane. It’s pretty inelastic for other folks, too, I’m sure. But, at the end of the day, the market generally finds a solution.

Now, do really poor folks have a beef here? Sure. Folks trying to hack it on minimum wage—don’t derail into a discussion of whether a minimum wage is a good idea; it’s the law of the land, so for now, let’s limit the scope of this discussion to the magnitude and not the existence—do get screwed out of this, because the artificial floor of the market hasn’t been indexed to inflation. [Mind you, there aren’t a plethora of jobs around here right at that minimum wage, but they exist.] But Jesus was right … you’ll always have the poor with you.

But the next SUV driver I see in Madison complaining about gas prices on the local news … well, pardon me if I feel like punching ’em in the face.