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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Don Lloyd who wrote (102263)5/15/2001 6:08:08 PM
From: yard_man  Read Replies (2) of 436258
 
No, what he is trying to define is a competitive market -- the one he referenced (one buyer / one seller) was not a competitive market.

A widget is a widget and you may reasonably do without if you don't want it, but a basic need is a basic need.

Replace the widget with food and you see the problem, no?

Of course, food is a competitive market and can't be so controlled.

Electric energy is also considered by many to be a basic need ... but energy delivery requires very large capital expenditures -- duplicative facilities are not an option (too expensive for society as whole) because of the great capital investment (space, etc.) required for the delivery.

Hence, the need for some form of regulation
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