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Politics : Electoral College 2000 - Ahead of the Curve
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To: chomolungma who wrote (6256)12/14/2000 3:05:04 PM
From: globestocks  Read Replies (2) of 6710
 
Interesting you site a principle found in Econ 101. To think that market mechanisms work in such simplistic ways is naivve. Three years of advanced micro-economic analysis has taught me market failures occur and seem to occur in frequent intervals among areas with high concentration of power, as in the utilities market.

If years of regulation has cut the capacity of now deregulated utilities to produce energy, how is it that the DWP,a reguatled public agency continues to supply more than an ample amount to its customers and offer a rate reduction. California is mainly serviced by PGE and Edison, both currently facing credit issues preventing them from purchasing more energy and raising prices.

However, I do agree the problem starts at a more fundamental level. Mainly, irresponsible people.
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