I am a regular reader of Jack Bog's Blog. It is a good place to get a handle on the local political scene as he seems to be well connected. He is mostly a cranky dude however, full of criticism and bereft of constructive alternatives. And when he ventures into economics, I cringe, as he is almost always confused and regularly wrong. For a tax law professor, this surprises me, as I thought the law and economics nexus was pretty well established at this point.
Anyway, here is an example from today that I use as a teachable moment:
"...the public utility companies. These cash cows are regulated, at least to a degree, on the theory that their service is a matter of life and death, particularly to people of limited means, and their opportunities for profit-taking should be limited."
No. They are regulated because the very high fixed costs of their operation make them natural monopolists and monopolists have long been known to be subject to the incentive to limit output to increase profits, which reduces overall social welfare. For people of limited means the government does many other things like earned income tax credits and specific residential energy tax credits.