Acton Institute Powerblog

Dealing with Rising Gas Prices

Share this article:
Join the Discussion:

As the Drudge Report today hails the coming of the fuel-efficient Smart car, it might be worth pointing out other ways in which people are adapting to deal with higher fuel prices. I don’t mean to minimize any of the pain associated with skyrocketing energy costs, whether personal (I feel it, too) or economy-wide, but it is interesting to observe the myriad and often unexpected effects of price changes. It’s the market working. Or, to put it another way, it’s the human mind working to adapt creatively to the challenge of scarce resources.

The search for fuel-efficiency has, for example,…

…hurt the trucking industry, but given new life to long-suffering railroads.

…convinced growing numbers of urbanites to use mass transit.

…been a boon for bicycle shops.

…hurt many parts of the auto industry, but has also spurred a sharp advance in hybrid auto sales.

Kevin Schmiesing Kevin Schmiesing, Ph.D., is a research fellow for the research department at the Acton Institute. He is a frequent writer on Catholic social thought and economics, is the author of American Catholic Intellectuals, 1895-1955 (Edwin Mellen Press, 2002) and is most recently the author of Within the Market Strife: American Catholic Economic Thought from Rerum Novarum to Vatican II (Lexington Books, 2004). Dr. Schmiesing holds a Ph.D. in American history from the University of Pennsylvania, and a B.A. in history from Franciscan University ofSteubenville. Author of Within the Market Strife and American Catholic Intellectuals, 1895—1955 (2002), he serves as Book Review Editor for the Journal of Markets & Morality. He is also executive director of CatholicHistory.net.

Comments