Professor Mark J. Perry's Blog for Economics and Finance
To put the recent fall in gas prices in perspective: It took more than six years for real gas prices to fall from about $3.50 per gallon in the early 1980s to $1.72 in early 1986, and it took only about six months for real gas prices to fall from about $4 in June 2008 to $1.72 in December 2008.
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
4 Comments:
Why?
Obviously, it was a conspiracy of market-manipulating speculators! Possibly in Zurich. It's time for some good old fashioned government regulation to stop this outrage!
Ha!! Waste time explaining something and risk losing status as a top 10 economics blog!!??
easy to explain....in the 80's there was a residual inflationary environment. most recently, most of the run up in the price reflected a weak dollar, which as the financial crisis unfolded and the dollar rose, was instantly corrected.
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