17d • General discussion
Run it like a business, they said. It will be efficient, they said. 🙄
Should the private sector really be running our essential services?
When a tech company cuts costs, you (might) get a cheaper phone. But when a power company cuts costs, you get blackouts.
It shouldn't be a surprise that unrestricted capitalism hurts everyone, even shareholders in the medium term!
We didn't even need to cover the healthcare mess in the US to drive the point in this video.
Now - if you're wondering why at 51% ownership, the NZ government have allowed for price spikes and blackouts to occur in a cost-of-living crisis, you'll have to go right back to the inception of these agreements in the 2010s Mixed Ownership model. The mandate was explicit: Run like a commercial entity.
That's exactly how they were designed, so why are we surprised they paid shareholders instead of investing in the nation's power generation and storage?
Capitalism has been phenomenal for lifting large swathes of people out of poverty, but we can't treat it like a swiss-army knife for good governance.
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Run it like a business, they said. It will be efficient, they said. 🙄
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