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The big turnaround: how Europe's gas prices fell from €300 to €35 MWh in the span of a year (www.euronews.com)

submitted 1 year ago by [email protected] to c/[email protected]

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cross-posted from: https://lemmy.zip/post/2073007

Archived version: https://archive.ph/UhQac
Archived version: https://web.archive.org/web/20230829230925/https://www.euronews.com/my-europe/2023/08/28/the-big-turnaround-how-europes-gas-prices-fell-from-300-to-35-mwh-in-the-span-of-a-year

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[–] [email protected] 1 points 1 year ago* (last edited 1 year ago) (1 children)

Very fair take on moral philosophy, but what does that actyally have to do with how commodity prices work??

[–] [email protected] 1 points 1 year ago

That we humans have made up money, and the market. That the notion of the 'invisible hand of the market' being an unbiased force, is actually a bunch of humans who have their vices and virtues move that hand. We have a system that tends to raise people up that are more greedy. Those that justify the existence of 'catch-up profits' to correct lost margins.