The manufacture of traditional incandescent light bulbs will be illegal, as of January 1. Compact flourescent bulbs (those with the corkscrew shape) and Light Emitting Diodes, which look something like the old bulbs invented by Thomas Edison, will have to replace them. You can still buy the old bulbs and stores can still sell them until they run out of stock, but it will be against the law to manufacture or import them. The new bulbs use less energy and last longer, but they are more expensive.
If the new lighting technology saves so much money in the long run, shouldn’t the free market take care of this? As opposed to a legal prohibition? Or is this a case in which the free market doesn’t meet a social good, in this case, saving energy? [Read more...]