A world without power
My lesson is slightly different - regulation really does matter.  I know many (myself included) subscribe to a small (ish) government - but infrastructure is one of those areas that has to be regulated.<p>The markets did not correct the situation (jacques gas station is not now the preferred suppliers for all Ontario)
So a simple regulation (you must be designed to keep your service flowing) seems to deal with a huge amount of this - power companies that don't have rolling brown outs get to be in business the next day etc