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Necessity vs. non-essential is quite a slippery slope as there is a gradient of need. How would one draw the line? As Enron and countless other examples show,
by alphaoverlord 15y ago
Necessity vs. non-essential is quite a slippery slope as there is a gradient of need. How would one draw the line?
As Enron and countless other examples show, a purely free market does not always result in an optimum outcome, even for something as perfectly fungible.
- WalterBright 15y agoEnron wasn't operating in a perfectly free market. The electric power business in California is heavily regulated, in particular, the utilities were forced by law to pay whatever Enron demanded, and also by law were unable to pass those costs along to the ratepayers.
- alphaoverlord 15y agoGenerally Enron is described as an example of deregulation gone wrong as Enron was able to control supply. That has nothing to do with passing off costs to ratepayers. Even if that's not a perfect example, do we really disagree that a pure free market doesn't always lead to the optimum outcome? Also, I don't think its civil to downvote simply b/c you disagree.