News for hackers. Stuff that matters.
Re:Texas electric firm files for bankruptcy citing $1.8B in ... by hn_throwaway_99 on Monday March 01, 2021 @06:28AM (#26301705)
I wish our political systems would admit to this. So often I hear one side praying at the alter of free markets and deregulation, while the other condemns any profit making business as greedy. It just seems to me that free markets work absolutely fantastic in some areas and absolutely horrid in others (health care being probably the most notorious example).
Re:Texas electric firm files for bankruptcy citing $1.8B in ... by x86_64Ubuntu on Monday March 01, 2021 @10:19AM (#26303526)
I think you are citing a false equivalency. "Any profit = Greedy" isn't as tightly held on the Left as Free-Market principles are on the right. The proof is in the pudding, which states have lost production of a service utility due to adhering to "Any profit is greed!"?
Re:Texas electric firm files for bankruptcy citing $1.8B in ... by hn_throwaway_99 on Monday March 01, 2021 @02:44PM (#26307358)
Well, I'll give you a specific example I was thinking of. Nearly every economist agrees that rent control is a bad idea if your overall goal is to make more affordable housing available to the largest possible population [1]. Yet I consistently see arguments in my left-leaning city against increasing density (e.g. with large multi family buildings) as "those greedy developers". Even the whole "Cancel Rent" protests during Covid often portrayed landlords as greedy (literal) rent seekers, despite the fact that some of the largest providers of affordable housing are small landlords at risk of losing their properties. The overall effect of this demonization of profit motive is a severe, and in some places catastrophic, housing crisis.

[1] https://www.nytimes.com/2000/06/07/opinion/reckonings-a-rent...

Re:Texas electric firm files for bankruptcy citing $1.8B in ... by imtringued on Monday March 01, 2021 @08:56AM (#26302768)
Yes, this is important. Free markets are just a tool. If there is a more effective tool then you should use that instead. I think it is particularly telling that one side is constantly engaging in corporate welfare when they talk about deregulation. The other side is exhausted from faceless corporations screwing them over. What's needed is more people who are on both sides and understand the whole picture. The idea that only one side is right is simply wrong. You need a wide variety of strategies.

There is this mindset that capitalism is always wrong when the mindset should be capitalism is not always right, which is a completely different perspective. However, I am really disappointed that people don't think about how to make the system work for themselves. Corporate abuse doesn't necessarily have to be the rule. The political environment could be shifted to favor workers instead and to a certain degree this would benefit everyone, not just one side.