Challenging a “Free-Market” Congressman in 1979 (early criticisms of public utility regulation)

By Robert Bradley Jr. -- June 5, 2024

Ed. Note: When I was in a bank training program in Houston in 1979 (age 24), I wrote a letter to Senator Phil Gramm very critical of his stance on federal railroad regulation. I picked up the ringing phone a few workdays later to the words ‘This is Phil Gramm…’ Shocking! So with adrenalin going, I answered his letter back to me with an in-depth explanation of my view, which Murray Rothbard published in The Libertarian Forum, July – August, 1980. This was one of my earliest publications and first thoughts on public utility regulation (which have changed little in the last 45 years).

Introduction: Murray N. Rothbard

When Professor Dr. W. Phillip Gramm, an eloquent and hard-hitting champion of free-market economics, was elected to Congress from the 6^th district of Texas, many people thought that Congressman “Phil” Gramm (as he was promptly renamed) would be a mighty force for liberty and the rollback of the State. …

Permanent Tax Subsidy? Solar’s 15 Extensions/Modifications

By Robert Bradley Jr. -- June 4, 2024

“But nothing is so permanent as a temporary government program.” (Milton and Rose Friedman, Tyranny of the Status Quo, 1983, p. 115)

“The infant industry argument is a smoke screen. The so-called infants never grow up.” (Milton and Rose Friedman, Free to Choose, 1979, p. 49)

What was said in a previous post regarding wind power’s 14 extensions of the Production Tax Credit also applies to solar power’s Investment Tax Credit (ITC) and its preceding tax favors. From 1978 to the present (46 years), 15 extensions belie the industry’s age-old claims of almost being competitive. Remember the New York Times’ declaration in 1994 (per Enron) that solar was “competitive” with fossil fuels? Remember Solyndra? Joe Romm in 2011: “It is clear that solar and wind are competitive in many situations right now.”…