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One of Texas' most prominent left-leaning economists knows exactly why its power grid failed

One of Texas' most prominent left-leaning economists knows exactly why its power grid failed
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One of Texas' most prominent left-leaning economists knows exactly why its power grid failed

One of Texas most prominent left-leaning economists knows exactly why its power grid failed
[email protected] (Ayelet Sheffey)
© THOMAS SHEA/AFP via Getty Images
Power lines in Texas City, Texas. THOMAS SHEA/AFP via Getty Images
Economist James K. Galbraith said policymakers failed Texas during the state s recent power outage.
Texas deregulated electrical system incentivized the cheapest production without accounting for resilient machinery.
Galbraith says the only way to fix the system is to turn it into a public utility.
Millions of Texans lost power last week and were stuck living in freezing conditions as their electrical bills skyrocketed. The crisis was totally preventable, according to a left-leaning economist who teaches at the University of Texas at Austin, and the reason why has to do with the state s deregulated electricity system. ....

Texas City , United States , New York , Al Iskandariyah , University Of Texas , Donald Trump , John Galbraith , John Kenneth Galbraith , James Galbraith , Jamesk Galbraith , Rick Perry , James Kenneth Galbraith , Greg Abbott , Ted Cruz , University Of Texas At Austin , New York Times , Electrical Reliability Council Of Texas , Us Congress , Economic Committee , University Of Texas Inequality , Getty Images Power , Getty Images , Kenneth Galbraith , Project Syndicate , Great Recession , Joint Economic Committee ,

Texas power-grid failure: left-leaning economist Galbraith knows why

THOMAS SHEA/AFP via Getty Images
The economist James K. Galbraith said policymakers failed Texas during the recent power outage.
Texas deregulated electrical system incentivized the cheapest production without accounting for resilient machinery.
Galbraith says the only way to fix the system is to turn it into a public utility.
Millions of Texans lost power last week and were stuck living in freezing conditions or with skyrocketing electrical bills. The crisis was totally preventable, according to a left-leaning economist who teaches at the University of Texas at Austin, and the reason has to do with the state s deregulated electricity system. ....

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