Oh great. You have given me two fascinating-looking books that I must read (one 700 pages long!) and two new Substacks that I see that I must subscribe to. Can you also give me the time I will need to read this stuff?
The magisterial Langlois volume is weakest with oil, natural gas, and electricity. All three strongly developed in a free market as vertically integrated with strong horizontal reach too. A long history of government intervention undid this. The benefits of such integration have not been undone by changed transaction costs, a story for another day.
Oh great. You have given me two fascinating-looking books that I must read (one 700 pages long!) and two new Substacks that I see that I must subscribe to. Can you also give me the time I will need to read this stuff?
The magisterial Langlois volume is weakest with oil, natural gas, and electricity. All three strongly developed in a free market as vertically integrated with strong horizontal reach too. A long history of government intervention undid this. The benefits of such integration have not been undone by changed transaction costs, a story for another day.