California comes to Norden - Or, the Inevitable Outcome of another Senseless Deregulation Experiment
Article from: OGEL 4 (2003), in Electricity Law and Regulation
Summary
Perhaps the most disheartening thing about neo-classical economics is its reluctance to admit that many real world market participants have absolutely no capacity to recognise the composition and/or logic of the world in which they live. A perfect example of this is electric deregulation, where unambiguous failures have been registered in California and Ontario (Canada), fiascoes in Alberta (Canada), Montana (US), Brazil, and now Scandinavia, and misadventures in many other places - for example, in the US Midwest and on the East coast, and in Australia, where electricity prices ...