In 1981, when regulations were holding the price of natural gas below its free-market level, then-Congressman Jack

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In 1981, when regulations were holding the price of natural gas below its free-market level, then-Congressman Jack Kemp of New York said the following in an interview with the New York Times: “We need to decontrol natural gas, and get production of natural gas up to a higher level so we can bring down the price.”11 Evaluate the congressman’s statement.


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Macroeconomics Principles And Policy

ISBN: 9780324586213

11th Edition

Authors: William J. Baumol, Alan S. Blinder

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