Remember the Yugo? Wikipedia reminds us that you could buy one of these imported cars brand new for $3,990 in 1987.2 That’s about $9,1003 in 2020 dollars — about a third less than the least expensive new car that you can actually buy today (which, according to Automobile Magazine, is a 2020 Chevrolet Spark LS for $14,395,4 if you happen to be in the market). A thirty-plus percent discount isn’t bad for a brand new car — it sounds like a great deal! Wouldn’t it be great if local governments and utilities paid as much attention to the competitive market? Wouldn’t ratepayers benefit from responsible budget management, competitive pricing, and efficiency?