Despite this, many economists still think that electricity deregulation will work. A product is a product, they say, and competition always works better than state control.
“I believe in that premise as a matter of religious faith,” said Philip J. Romero, dean of the business school at the University of Oregon and one of the architects of California’s deregulation plan. — New York Times, Feb. 4, 2001
Time was, the only place a guy could expound the mumbo-jumbo of the free market was in the country club locker room or the pages of Reader’s Digest. Spout off about it anywhere else and you’d be taken for a Bircher or some new strain of Jehovah’s Witness. After all, in the America of 1968, when the great backlash began, the average citizen, whether housewife or hardhat or salary-man, still had an all-too-vivid recollection of the Depression. Not to mention a fairly clear understanding of what social class was all about. Pushing laissez-faire ideology back then had all the prestige and credibility of hosting a Tupperware party.