No, not “an economist”, the magazine.Â In a long discussion of winners and losers from low oil prices, we find what has to be the stupidest assertion in a mainstream publication this month, maybe even ever, who knows:
Really. This is hard to even talk about without insulting the intelligence of our readers, but it’s in The Economist, for Pete’s sake. How does that work? Does The Economist think ‘overall economic effects’ just end in a few decades, before the, um, economic effects of climate change really kick in? Has a radical Christian sect with a line on the rapture schedule taken them over?Â Or has the law of demand been repealed when we weren’t looking, so lower prices cause people to use less instead of more?