More Wisdom from David Cay Johnston on Flawed Economic Theory

   Some More Wisdom from David Cay Johnston  on  Flawed Economic Theory :

            Not every opportunity to profit because of above-market prices is filled by a competitor. Indeed, in my books I have shown how rules discourage this in many markets. In some markets, notably electricity, the rules tend to raise prices, not lower them, despite seemingly robust competition. Enron, BTW, wrote the original rules for