What happened to gasoline in the mid 1970s?

That's a very big claim considering there are many schools of economic thought/ideology in the field of "Economics" and each has their chosen high priest. I'd like to know who your uncle is too. What University did he teach at?

Clemson. He's been associated with Clemson University in some capacity for over fifty years. He served as interim Dean for a time. He served as Executive Director of the Federal Trade Commission under Reagan for both terms. It's a big claim, because it's a big fact.

Here he is.

Bruce Yandle