Texas electric firm files for bankruptcy citing $1.8B in claims

Re:Texas electric firm files for bankruptcy citing $1.8B in ... by rayiner on Monday March 01, 2021 @08:44AM (#26302674)

> It's actually well understood that privatisation for platform industries is bad, privatisation for businesses running on top of platforms is good

That’s not “well understood” at all. Folks don’t remember how dysfunctional and sclerotic nationalized industries were in the 1950s and 1960s. There is a reason nearly every developed country got rid of them.

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Re:Texas electric firm files for bankruptcy citing $1.8B in ... by disgruntledphd2 on Monday March 01, 2021 @08:50AM (#26302726)

Yeah, mostly driven by the ideas of Milton Friedman.

Fortunately, we can see that 40 years later there were no unpleasant side effects from introducing markets into almost every business and service /s.

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Re:Texas electric firm files for bankruptcy citing $1.8B in ... by tptacek on Monday March 01, 2021 @01:10PM (#26305922)

Working class people can now afford air travel, you can ship oranges between states without applying for a special trucking permit, almost 50% of Iowa's power generation is renewable, stock market trades went from 80c _per share_ to retail traders being paid to trade, and we still manage to make and enforce rules so that average gas mileage has gone from 13mpg to 26mpg.

I don't agree with Rayiner about Texas, but I don't think you can wave your hands at 60s-70s deregulation and say "lol Milton Friedman". The deregulators were right about a lot of stuff.

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