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  • For those of us who worry more about working people than about windfall profits for oil companies, it may net out. A better question is: what does it do to our economy if we manage to overheat the earth? This summer's drought provides a small taste.

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For those of us who worry more about working people than about windfall profits for oil companies, it may net out. A better question is: what does it do to our economy if we manage to overheat the earth? This summer's drought provides a small taste.

I admit that these terms and the diagrams connected with them repel some readers, and fill others with the vain imagination that they have mastered difficult economics problems, when really they have done little more than learn the language in which parts of those problems can be expressed, and the machinery by which they can be handled. When the actual conditions of particular problems have not been studied, such knowledge is little better than a derrick for sinking oil-wells erected where there are no oil-bearing strata.

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