Regulatory Reform

Free-Market Principles Apply to Light Bulbs, Too

The U.S. Department of Energy has awarded appliance-maker Philips $10 million for devising an alternative to today’s 60-watt incandescent light bulb. The Philips bulb sells for $50, yet a standard incandescent bulb sells for around $1. Government programs such as the “L-prize” are yet another example of the waste of taxpayer dollars.  America’s economy is becoming more energy efficient and less carbon intensive, not because of regulation or government programs, but because it saves money to be energy efficient. If  a product truly saves a consumer money then there should be no need for subsidies, mandates, efficiency standards or other government manipulation to allow such a product to flourish in the marketplace.

In Depth: Regulatory Reform

In his first inaugural address, Thomas Jefferson said that “the sum of good government” was one “which shall restrain men from injuring one another” and “shall leave them otherwise free to regulate their own pursuits of industry.” Sadly, governments – both federal and state – have ignored this axiom and …

+ Regulatory Reform In Depth