"Vote with your wallet" depends on several micro-economic assumption holding true, that don't hold true here.
One of those is the assumption of perfect competition. Electricity is far, far from being a market with perfect competition. How many electricity providers are you able to choose from at your house? I'm going to guess 1.
Another assumption that doesn't hold here is the absence of externalities. The full cost of damage to the environment is not included in the price you pay for electricity, so people are going to over-consume it.
You rail against laws and regulations but even in the second sentence of your post you assume their necessity with the phrase "create an economic system..." Laws and regulations are how you create such systems.
Regulatory capture is a real thing, but it's not a good argument against all regulation. Maybe it's an argument for relatively less regulation than we'd have otherwise. It's also an argument for doing regulation better.
One of those is the assumption of perfect competition. Electricity is far, far from being a market with perfect competition. How many electricity providers are you able to choose from at your house? I'm going to guess 1.
Another assumption that doesn't hold here is the absence of externalities. The full cost of damage to the environment is not included in the price you pay for electricity, so people are going to over-consume it.
You rail against laws and regulations but even in the second sentence of your post you assume their necessity with the phrase "create an economic system..." Laws and regulations are how you create such systems.
Regulatory capture is a real thing, but it's not a good argument against all regulation. Maybe it's an argument for relatively less regulation than we'd have otherwise. It's also an argument for doing regulation better.