Nomi writes: >Right. Deregulation with a) more responsible federal oversight and b) a set of rules which would create a 'more robust transmission system' equals regulation, period.<
I tell my students in Money & Banking that the regulation vs. deregulation debate is a snare and a delusion. Rather, the question is the right _kind_ of regulation. Strangely, Mishkin's textook basically agrees. Similarly, the issue is whether it's a private monopoly, a regulated private monopoly, or a government monopoly that runs electric transmissions. It's not competition vs. monopoly. Jim
