Originally Posted by
warthog
The hog suggests posters here consider the electricity market in California, as a data-point in the context of energy markets, free markets, and state intervention.
Also, if anybody here does not understand the concept of Moral Hazard, then they would, respectfully, be well-served to look it up and give it some consideration, but it is not straight forward. Ask BenB.
Politics and economy is not, as some would have everyone believe, a simple issue, but it *is* often boiled down in the media so even the most simple of people can think themselves informed, and even on occasion, an expert (which leads them to sometimes start posting here!).