Cold Fusion and Opportunity Cost

I think some people have the idea that laws of economics might work well for most things, but don't apply to certain things (like when one says that markets work well for most things, but not for ____). I''m talking about, more specifically, when one thinks that there's something magical about technology, and that certain goods aren't subject to the same pricing pressures caused by scarcity.

For example: we're all familiar with the fact that a barrel of oil has an associated price (approx. $53 right now).

Share this