Quote:
Originally Posted by rrskylar
Tried to like this post! 
The notion that increase in gasoline prices will discourage driving is completely bunk, gas prices have been high in Europe for decades and people still pay and drive just as much. |
Actually, no they don't - you couldn't be more wrong. They don't drive even comparably as close to as much as North Americans do. Look at the transportation data from European countries, this is just a fact.
An yes, if you increase the price of a good, people will demand less of it, its basic economics. The relationship between a good's demand and price is its price elasticity. Its a fundamental tenant of free market economics, and has been proven over and over again. There is no debate surrounding this.
So basically, you are 0 for 2 on this one.