Re:Why privatisation has been a costly failure in Britain
by Nursie on Tuesday July 11, 2023 @06:58AM
(#36679218)
> Free markets are the most effective way to facilitate technological progress and economic growth which indeed benefits everyone - although not in equal amounts.
When employed in the right place. It's very much not clear that train networks are that place, in fact I'd say it's quite clear in the UK that train networks are not that place.
Re:Why privatisation has been a costly failure in Britain
by naijaboiler on Tuesday July 11, 2023 @07:20AM
(#36679393)
exactly. Free markets don't work in situations where there is natural monopolies.
Re:Why privatisation has been a costly failure in Britain
by wolframhempel on Tuesday July 11, 2023 @07:28AM
(#36679469)
Totally agree (I'm the guy from the original comment on top, so this was more of a follow up :-))
We want the "fight" to occur. Economies are complex systems and humans have extensively proven that they're not good at running those. Free markets are the most effective way to facilitate technological progress and economic growth which indeed benefits everyone - although not in equal amounts.
However, we have to be mindful that free markets contain the seed to their own destruction. On the upper end, there's monopolies, price fixing and other anti-competitive behavior that disables the price finding mechanism. On the lower end, there is poverty which prevents people from participating and discourages entrepreneurship.
Good regulation does just enough to keep the fighters in the arena.