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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Don Lloyd who wrote (105473)5/30/2001 5:00:23 AM
From: KyrosL  Read Replies (2) of 436258
 
Don,

Any economist who either claims ... that price controls do not cause shortages is not a real economist, but rather a political economic junk scientist who sells his professional opinion for money and/or status

That's true, if the market in question is free. However, supporters of price caps argue that the California electricity market is an oligopoly, which at times operates as a monopoly. And any economist will agree that, if this is the case, regulation, including price controls, is a much better choice than letting the price be determined by the oligopoly or monopoly.
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