Very briefly, Josh Painter has a front-pager about Robert Samuelson’s recommendation for keeping gas prices permanently high regardless of supply and demand. Samuelson’s ideas aren’t new, by any means. I’m sure people can find even older examples in the historical record, but the most recent recapitulation of Samuelson’s prescription can be found in the November, 2005 issue of Scientific American: Running On Empty In fact, it reads eerily like Samuelson wrote it.
The idea of gradually or suddenly raising taxes on energy (not just gasoline) to coerce people’s behavior (and now, to cover government shortfalls) is not new. Of course, Samuelson would undoubtedly be proud that his thinking comports with the editors of SciAm.