Chapter 19 of 133 · The Freeman 1965 by Foundation for Economic Education
$48,000; P.L. Poirot
In the 58 years since 1907, the postage rate has risen to 4 cents a card - 400 per cent of what it was then; whereas, the price for electricity has steadily declined from 50 cents per kwh to 2 cents now - 4 per cent of what it was then. An average American home to day, if fully electrified with air conditioning and heating, would use about 24,000 kwh annually, costing $480. At the 1907 rate, that cost would be $12,000; and if kwh prices had behaved as has the price for delivering a post card, 1965 $48,000 ! 45 the electrical bill would be $48,000 annually. Except, that no one would use electrical appliances! One may .speculate as to what those respective rates might be today had the situations been re versed, with a government monop oly of electrical service, and a free enterprise postal service! How much profit was earned over the years by the Edison Light and Power Company and its suc cessors in Wichita is unknown to us, but we do know that within a recent period of years while the Post Office was accumulating a deficit of $10 billion, its largest competitor in the communications field, the privately owned Ameri can Telephone and Telegraph, showed $22 billion in profits - des pite the fact that the rates it could charge for phone service were regulated and controlled by the Federal Communications Com mission.
The comparative performance of governmental and private enter prise, even when both are subject to price control, is further illus trated in adjoining news items from the front page of The Wall Street Journal of November 27, 1964: In view of all the talk about protecting consumers, the record suggests that private enterprise is a better caretaker than the gov ernment. ~ (Reprints available at 2 cents each.) FROM EDEN TO PARADISE Choice versus Compulsion • DEAN BANKS OUT of the civil rights and related issues emerges that old problem 'which has haunt ed civilized man ever since his cu riosity got the upper hand in Eden. By what force, he keeps asking himself, will the desires and activities of men be governed? Must all human behavior fall under the rule of law, or can there be a functional division between "law" and "mor al duty"- between established le gal procedure, which demands compliance with basic social ideals, 1 Throughout this study, "moral-legal"
The Freeman 1965
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