this post was submitted on 15 Aug 2023
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[–] J12@lemmy.world 47 points 1 year ago (3 children)

Absolutely bizarre utility companies are for profit with shareholders.

[–] lasagna@programming.dev 22 points 1 year ago* (last edited 1 year ago) (1 children)

We have been shown over and over that investors will take profits during good times, build no resilience to handle disasters, invest the bare minimum back into infrastructure and jobs, drain the companies until bankruptcy arrives and taxpayers are left with the bill.

This could work with proper regulation. But regulation can be corrupted. Money corrupts. This industry involves lots of money. And so here we are.

When Jeremy Corbyn proposed to buy back utility companies here shortly before the energy crisis, people looked at him like a lunatic.

[–] Yo_Honcho@lemmy.world 1 points 1 year ago (1 children)

Really sounds like a capitalistic society.

[–] lasagna@programming.dev 1 points 1 year ago* (last edited 1 year ago)

Because communist societies did better?

Maybe it's time to admit that the biggest flaw in our systems is human nature.

[–] MooseBoys@lemmy.world 11 points 1 year ago

Right? It’s not like consumers have an alternative to whoever their provider is.

[–] MostlyBirds@lemmy.world 5 points 1 year ago

No, it's just the corporate feudalism we live under. I guess that's pretty bizarre itself, though.