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.