Two interrelated trends—the growing popularity within the GOP of the conservative intellectual challenge to the New Deal consensus, and the rise to dominance of economic theory within regulatory and energy policy debates—have obscured the importance of regulation to well-functioning energy markets. This Article uses contemporary energy policy disputes to illustrate how and why energy markets can never resemble the idealized markets of economic theory that have become so popular in conservative policy discourse.
David B. Spence,
Naïve Energy Markets,
Notre Dame L. Rev.
Available at: http://scholarship.law.nd.edu/ndlr/vol92/iss3/1