Wehrwolfen
Senior Member
- May 22, 2012
- 2,750
- 340
by Erika Johnsen
March 22, 2013
Why? Not merely because government directives might forcibly funnel consumer demand, investment, and R&D toward a product that really isnt ready for mass consumption, but also because, no matter how great their intentions might be, the free market is always better than politicians at picking efficient solutions. The free markets only bias is in appealing to peoples rational self-interest; i.e., if people figure out that Product A is more expensive or of lower quality than comparable substitute Product B, people will buy Product B.
In this case, the compact fluorescent bulbs politically favored by the Energy Independence and Security Act of 2007 encountered a lot of resistance because CFLs are impractical, more expensive, and it turns out they might actually be a cancer risk, no big deal or anything. But if the goal is to get people to buy bulbs that use electricity more efficiently, government mandates arent nearly as effective as a product that can actually make those electricity savings more pragmatic, more affordable, and more worthwhile, and the market is happy to provide. Via the NYT:
[Excerpt]
Read more:
Reminder: That incandescent light bulb ban was not a good idea « Hot Air
March 22, 2013
Why? Not merely because government directives might forcibly funnel consumer demand, investment, and R&D toward a product that really isnt ready for mass consumption, but also because, no matter how great their intentions might be, the free market is always better than politicians at picking efficient solutions. The free markets only bias is in appealing to peoples rational self-interest; i.e., if people figure out that Product A is more expensive or of lower quality than comparable substitute Product B, people will buy Product B.
In this case, the compact fluorescent bulbs politically favored by the Energy Independence and Security Act of 2007 encountered a lot of resistance because CFLs are impractical, more expensive, and it turns out they might actually be a cancer risk, no big deal or anything. But if the goal is to get people to buy bulbs that use electricity more efficiently, government mandates arent nearly as effective as a product that can actually make those electricity savings more pragmatic, more affordable, and more worthwhile, and the market is happy to provide. Via the NYT:
Youve probably seen LED flashlights, the LED flash on phone cameras and LED indicator lights on electronics. But LED bulbs, for use in the lamps and light sockets of your home, have been slow to arrive, mainly because of their high price
Thats a pity, because LED bulbs are a gigantic improvement over incandescent bulbs and even the compact fluorescents, or CFLs, that the world spent several years telling us to buy.
Thats a pity, because LED bulbs are a gigantic improvement over incandescent bulbs and even the compact fluorescents, or CFLs, that the world spent several years telling us to buy.
[Excerpt]
Read more:
Reminder: That incandescent light bulb ban was not a good idea « Hot Air