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ITEM: Writing in the New York Times for August 16th. Robert Kuttner claimed: "In the search fop" the source of Thursday's blackout, the underlying cause has been all but ignored: deregulation." Kuttner, co-editor of" The American Prospect, continued: "In principle, deregulation of the power industry was supposed to use the discipline of free markets to generate just the right amount of electricity at the right price. But electric power, it turns out, is not like ordinary, commodities."
BETWEEN THE LINES: Fans of central planning have been rather quick to blame deregulation for the blackout. Yet energy remains one of the most regulated areas in the U.S. economy, combining licensed monopolies and an ...