Capitalism needs onlyone regulator: consumers

Brooks Drayton's response to columnist Howard Blitz on government regulation of business shows how schools, including graduate schools, distort capitalism. He said, "Privately owned, publicly regulated electric utility companies represented capitalism at its best." Government regulation of business is just one step away from socialism.

Capitalists need only one form of regulation: If they don't perform, the public (read that consumers) will regulate them out of business. It is in the best interest of capitalists to serve the public well.

There has been no "deregulation," of the electric utility industry, only re-regulation. The "stupidity" comes from politicians and bureaucrats trying to tell capitalists how to run their businesses.

Our nation would be better served if our high schools, our universities, and especially our graduate schools, would spend a little more time reading the Constitution and teaching true capitalism. If our politicians were so educated, just think of all the opportunities.

In regard to investing for retirement savings, just look at what a good retirement plan our federal government runs for us. You'd have to have rocks in your head to voluntarily put your hard-earned money into a retirement plan with a return on investment like that of Social Security.

Mr. Drayton was not forced to invest his retirement savings in electric utility companies.

FRED C. HOWARD

Yuma