Economic principles explain why the Saudis began, in late 2014, to pump crude as fast as they could – or close to as fast as possible. In fact, there is a good reason why the Saudi princes are panicked and pumping.
For everyone (and on this site we hope this is everyone) who has read Hayek's Road to Serfdombefore, feel free to "reread" it for the cartoons. For everyone else: read it now. Feel free to stop when it becomes familiar. Courtesy of mises.org