The last months have brought home to the American public the critical importance of markets and how they are structured. So as President-elect Obama looks beyond finance to two of the other major challenges we face -- health care and energy -- he would do well to consider the following riddle:
Q: How is a kilowatt-hour of electricity like a day in the hospital?
A: Nobody wants either.
That's easy to see for the kilowatt-hour: it has absolutely no intrinsic value. We...
]]>